As we enter 2024, many take this as an opportunity to plan for the year ahead. For our customers, this means considering buying decisions and budgets in the new year. Most economists agree the US was able to avoid a recession in 2023ā¦but will this hold out for the year ahead? Regardless of where the economy and markets go, thereās a sense of carefulness that uncertainty leaves in its wake.
For those in the branded merch and print industry, an impactful way we can support our end-user buyers is presenting product options that meet the strategic needs for which theyāre intended - no matter the budget. What this often comes down to is whether or not they choose to prioritize a name brand or not and the nuances involved. Hereās what you need to know:
Brand Names
The demand for name brand products over the last several years has skyrocketed, and our industry offers hundreds (if not thousands) to choose from. Earlier this year, I wrote the article, 40 Name Brands Merch Buyers Should Consider, which highlights some top recommendations.
Whatās interesting is that in times of uncertainty, we actually see many name brands perform quite well. If we enter a recession in 2024, it doesnāt mean name brand sales stop. Many buyers gravitate to established brands because they trust their quality, status and efficacy. Name brands are still attainable; the product itself just may need to be scaled back if showcasing the brand itself is the priority.
Dupes (NOT knockoffs)
First, letās define what a ādupeā is. This is a trendy term short for āduplicateā and is almost always referred to in a favorable manner, compared to the term āknock offā, which carries cheaper, negative undertones. Especially amongst younger buyers, finding a good dupe for a name brand is often proudly shared. In a way, avoiding the steep price tag becomes its own sort of social status.
So, when should you prioritize a ādupeā? This is perfect for buyers who care more about the true function and utility of a product than the name itself. Theyāre budget conscious and would rather get āmore for their moneyā, rather than minimize buying power. This is also a smart approach for buyers who may prefer to avoid aligning with another product/retail brand in conjunction with their own.
Here are a couple of my favorite examples in retail right now (you may have even gifted a few this holiday season!):
The UGG dupe:
In middle school, I wouldāve been sheepish about admitting I didnāt have the name brand. Now that the brand has seen a resurgence 15 years later, the attitude has changed. There are countless videos and articles dedicated to determining which dupe is best.
Photo: https://brittanykrystle.com/amazon-ugg-dupes/
The Stanley Dupe
Another hot product thatās much more tied to our industry. In fact, ASI just named the Stanley Quencher āProduct of the Yearā for 2023. The great news is that we have access to the OG product in our industry ā however, there are infinite options when it comes to dupes as well. Personally, Iāve been using the ElementalĀ® 40oz. Commuter and am obsessed with the look and quality.
There are also some amazing options from Hit Promotional Product, The Magnet Group and Gemline.
Regardless of whatās in store for us in 2024, itās our mission to help customers understand their options and navigate product decisions to ensure their goals and needs are always met. Understanding this can make all the difference when it comes to influencing ideas, execution and purchasing decisions. Cheers to a thriving year ahead!
Taylor Borst is Sr. Director of Marketing & Vendor Relations for American Solutions for Business. Joining the print and promo industry in 2015, she specializes in social media, promotional products, and supplier relations. Taylor is currently a Sous Chef with PromoKitchen, board member for UMAPP, on the PSDA Emerging Leaders Committee and is an advocate for education and youth involvement in the industry. Connect with her on Instagram,
TikTok and LinkedIn.