Promotional product ad spending experienced 6.3% growth over the same period
A new report from Promotional Products Association International and PQ Media compares U.S. advertising and marketing spending in 2018 vs. 2017. The data is broken down across 14 silos, which represent hybrids of traditional and digital media platforms.
Promotional marketing spending was at $54.92 billion in 2017 and grew by 4% in 2018.
Promotional product ad spending, which the report identifies as a channel within the promotional marketing silo, began at $23.29 billion and saw a 6.3% growth.
According to the report, promotional marketing includes consumer promotions such as premiums and loyalty programs and B2B promotions such as incentives marketing and trade show promotions. Promotional marketing includes awards, branded merchandise and business gifts.
Each category makes up 11% and 5% of the advertising and marketing market share, respectively. Total advertising and marketing performance reached $455.95 billion in 2017 and saw a 5.5% growth into 2018.