Wednesday, April 3, 2024
A TRANSATLANTIC COLLABORATION?
News
Looking back at the international conference at CTCO 2024
The dialogue on collaboration between the United States and Europe in the promotional products industry is open. During a recent panel discussion at CTCO 2024, European associations shared their perspectives on the potential for synergy between the two continents.
Michele Bell, ASI 's Vice President of Editorial and Events , provided insights into the massive U.S. promotional market. ASI has 20,000 distributor members, 3,500 supplier members, and 1,000 decorator members, reflecting the industry's breadth. In 2023, the U.S. market reached $26.1 billion , though growth was relatively flat compared to previous years, partly due to the impact of COVID-19.
Despite a robust supply chain, Michele noted that the United States lags behind Europe in terms of eco-responsibility . European companies have been pioneers in adopting sustainable practices, with the European market 10 to 15 years ahead. While the U.S. is making progress in catching up, the demand for sustainable products from major clients, including Fortune 500 companies like Amazon and Microsoft, underscores the importance of prioritizing environmental initiatives in the promotional products industry.
Michele also highlighted some of the US market's strengths: agility and efficiency . " We're not great at sustainability, but we're very fast to market, " she noted. American companies excel at fast delivery times and adopting technological advances .
However, Antony Villeger, president of the 2FPCO (French Federation of Promotional Products), highlighted Europe's progress in environmental standards and regulations. Acknowledging the United States' expertise in supply chain management, Antony emphasized the importance of collaboration to bridge these gaps. " We need to work together because you are better than us in the supply chain ," he acknowledged.
Tom Robey, director of the British association BPMA , highlighted the interest of American companies in partnering with British partners to access the European market.
The conversation also touched on cultural differences in promotional practices . Michele Bell noted that while promotional items are ubiquitous in the United States, they may not have the same importance in Europe, particularly in political contexts . Nevertheless, there are unique opportunities in Europe, such as sports-licensed merchandise , that could be of interest to American companies.
The discussion concluded with a reflection on the need for collaboration and the role of industry alliances. The creation of initiatives such as PromoAlliance, a partnership between ASI, PSI, and Sourcing City, illustrates efforts to facilitate cross-border partnerships. These alliances serve as conduits for companies seeking reputable partners abroad.
Looking to the future, Emilio Estellés, president of the Spanish association AIMFAP , stressed the need for harmonization within the European promotional market, particularly in light of the sustainability goals set out in the 2030 Agenda . " We must all work together in the same direction ," he urged, highlighting the transition to sustainable promotional products.
In conclusion, the conference highlighted the importance of dialogue and collaboration between the United States and Europe in the promotional products industry. While challenges exist, there are many opportunities for mutual learning and growth, paving the way for a more interconnected and sustainable future.