With 46.1 percent of Americans fully vaccinated, according to CDC data, more and more parts of the nation are beginning to open up with people excited to resume their “normal” activities. For the banking and financial sector of the promotional products market, this translates into a variety of products available to not only assist with remote work that is still continuing, but also to thank employees with thoughtful gifts that encourage them to relax and have fun.
Steffany Rivera at KTI Promo points out that financial companies are still mostly remote. “Video presentation products have been the most reordered items of this year,” she states. “Large and small ring lights, tripods, webcams, and microphones were items that were either purchased, asked to source, or delivered for these agencies.
“Re-openings haven’t lessened buying traffic,” she continues. “These companies are incentivizing both work approaches—physical and remote. As these remain options and people continue to toggle between the two, quality presentation products remain highly relevant.” She adds that demand for these products was at their peak before spring break, and while they have levelled off during the summer, the company expects it to pick up again this fall and continue through the holiday season.
Sweda Company’s Kellie Claudio says that the banking/financial market is one of the few markets with both in office and working from home employees. “There is nothing like a great piece of drinkware on the desk that is yours and yours alone at home and in the office,” she remarks. “We see this market full of stress and angst getting out to enjoy the outdoors to decompress. We just filled very large 10K hammock order with the bank’s logo drop shipped to their employees with a letter of thanks and encouragement to enjoy the outdoors from their corporate CEO.”
Drinkware, headwear, and outdoor products are also extremely strong for this segment, Claudio continues. “Sweda’s imprinting capabilities give our customers a beautiful and upscale looking way to tell a story on a great piece of drinkware with messages of thanks, welcome back, or the attributes of the company whose logo is highlighted,” she details. “Headwear bounced back fast—to the surprise of many manufacturers who are struggling with getting their products into the states from overseas. The Richardson Cap phenomenon is stronger than ever with demand outpacing the supply.”
Outdoor products were strong for Sweda during Q3 and Q4 of 2020 and have continued to be in high demand in 2021. “Now that National Parks are open again and the RV market is exploding, getting back to appreciating the stunning outdoors is waiting for consumers to camp, hike, bike, off-road, picnic, and play,” Claudio adds. “This ‘Get out and Live Bold’ feeling of freedom has definitely moved the needle for us in an upward healthy track with demand for our Basecamp brand.”
Claudio goes on to say that all of the work that Sweda’s distributor partners have been doing since January 1 to prepare for these financial end users to say “go” is now coming to fruition. “We were/are busier than ever preparing customer presentations for their clients, spec sampling, and distributor/end user Zoom calls for the first five months of this year waiting for the waterfall of closed projects to begin,” she elaborates. “A wonderful side bar to this activity meant adding talent to our creative team. The good news is that bookings have started their return to pre-COVID activity.”
Suppliers have a plethora of top-notch products to present to distributors. Over at KTI Promo, Rivera says the company’s new WC120, Magsafe wireless charger, MA24 wireless charging 10 watt mouse pad, and MA39 1080p HD webcam are faring extremely well. “The best-sellers remain items that have combination features such as our PB109 10,000 mAh power bank and 5-watt wireless charger, MA20 multifunction desktop accessory and 5-watt wireless charger, and our line of ring lights,” she adds.
According to Claudio at Sweda, the banking and financial sector is no different than many who want to enjoy great products. “Retail brand names sharing logo space is a great plus to enhance the equity of their brand,” she says, “so many financial institutions are striving to improve their eco footprint and asking for sustainable products. With no ability to hop on a plane to China to visit factories, our merchandisers have been diligently working through Zoom calls to design new products.”
To that end, Sweda has added its Basecamp brand as well as adding Led Lenser® and sustainability line Buff®, which Claudio notes has been a win. “Sustainability continues to be the buzzword; therefore, adding Buff®, which is made from 95 percent recycled plastic water bottles, and REPREVE® (recommended by The Skin Cancer Foundation), to our stable of brands works.”
Sweda’s current best sellers include a lite ring, UV sanitizing units, and combination kits. “Sweda was kitting long before this 2020 trend took the market by storm,” Claudio says. “Our forte with the Perfect Kits Program, born in 2010, is powerful and in demand. There is nothing like the feeling of pure joy watching our kits unveiled by the recipients on social media.”
Promoting these products to clients is a matter of focusing on function, KTI Promo’s Rivera suggests, offering one less item to carry or have. “People want simplicity, and they want to be more stylish,” she explains. “Having multiple items with similar functions except for a few functions is the past. Most items are now wireless charging, simple to use, and are not brand specific.”
Claudio at Sweda adds to Rivera’s thoughts. “Taking your customers’ budget and stretching it to include more than one product is always a great way to show your client that you value their spend,” she says. “The unboxing of any product is an act to not take lightly. I hear from our customers that giving the recipient the ‘unveiling experience’ of receiving a beautiful thank you, welcome, congratulations, or just because, is very important in our current environment where employees are still working from home. This gesture is thoughtful and as warm as possible when the clients cannot physically show their appreciation.
“Invest in spec samples,” Claudio concludes. “The emotional response to a beautiful spec is priceless. Many of our most successful AEs always send their great ideas with a spec sample.”