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Promotional Tags Market

The global retail business has changed dramatically in the recent years and continues to expand at a rapid pace. Consumer choice, though evolving, tends to favor items from a recognized and trusted seller. Vendors take advantage of this by offering promotional incentives such as prizes and gifts, which serve two objectives. For starters, promotional handouts serve as a kind of advertising for the firm, its product offerings and its brands. They also aid in the retailing of a vendor's customer base and the growth of loyal customers. People are more informed and worried about quality of products and vendor legitimacy, which is likely to play an important role in the development of the global promotional tags market in near future.

As a consequence, vendors must have loyal clients who will not switch vendors until they are given a reasonable and better alternative. Promotional tags, which are presented to frequent or potential consumers of a business, are frequently carried by the client in person. As such, it works as marketing tools for the business or service indirectly. As such, the global promotional tags market is estimated to observe growth in the years to come. Rise in an individual's average income is likely to come up as an important growth factor for the market. This is happening on a far bigger scale in emerging countries than it is in already developed countries. Promotional tags are beneficial to suppliers since they increase the number of loyal consumers, which leads to increased savings.

Global promotional tags market: Introduction

The global retail industry has transformed over the past few years and continues to witness tremendous growth. Consumer preference, although on a continuous evolutionary path, inclines toward products from a familiar and trusted vendor. Capitalizing on that, vendors provide promotional giveaways in the form of gifts and prizes, which serve two purposes. To begin with, promotional giveaways act as an advertisement for the company, its brands or products. Also, they help retail the consumer-base for a vendor, and increase the number of loyal consumers. In today’s era, consumers are more aware and concerned about the product quality and the vendor’s credibility than we think. As a result, it is critical for vendors to have loyal customers, who would not change the vendor unless provided with a reasonable alternative. Promotional tags, given to regular or prospective customers of a brand, are usually carried in person by the consumer, and therefore indirectly act as brand ambassadors for the product or company. The high preference for promotional tags can be attributed to the reasons mentioned above.

Global Promotional Tags Market: Dynamics

There are several reasons why the global promotional tags market is expected to see a steep rise in terms of sales, over the forecast period (2017-2027). The promotional tags market is anticipated to grow on the backdrop of retail sector growth, which is currently staggering around 3%. Other contributing factors are, increase in disposable personal income, which is up by an estimated 3% from last year. This can be attributed to increase in average income of an individual. Emerging economies are witnessing this on a much larger scale than developed regions. From a supplier perspective, promotional tags are useful for increasing the number of loyal customers, which indirectly leads to increase in savings. It costs much less to serve a loyal customer who is familiar with the line of service, than a new customer who is only beginning to use the products of that company. The factors which are expected to act as drivers for the global promotional tags market are, customizability – promotional tags are small and portable and come in a variety of sizes and shapes, which in turn, has more appeal to consumers. Promotional tags are small, and usually carry the company’s logo, which helps the company use the loyal customer as a resource to increase brand awareness. Competition among vendors is in terms of shape and design of promotional tags.

Major factors that might acts as restraint for the promotional tags market are – alternative advertising solutions, such as ote displays, growing tendency of brands to leverage the benefit of IoT to increase brand awareness. Also, disrupting factors cannot be overlooked, as any new entry in the market that appeals more to the modern consumer than traditional brand advertising, can take the market by storm.

Global promotional tags market: Segmentation

The global promotional tags market can be segmented on the basis of varieties in which they have been made available in the market –

On The Basis Of Product Type:

  • Key Chains
  • Bookmarks
  • Lased Tags
  • Napkin Rings
  • Plumber Tags
  • Golf Divot Tool
  • Dog Tags
  • Luggage Tags
  • Others

On the basis of Material Type:

  • Leather
  • Canvas
  • Plastic
  • Silicone
  • Acrylic
  • Others

Global Promotional Tags Market: Geographical Overview

The global promotional tags market has been segment in 7 regions –

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Middle East & Africa (MEA)
  • Japan

The North America market is expected to dominate the global promotional tags market, over the forecast period, in terms of both value and volume. The region is expected to be closely followed by the Western Europe market. The Asia-Pacific is expected to witness considerable growth in number of consumers with increased disposable personal income, who prefer to use branded products. Despite that, APEJ region is unlikely to surpass the North America and Western Europe markets, over the forecast period. Latin American and MEA region are expected to witness moderate growth in terms of volume.

Global promotional tags market: Key Players

Some of the key players operating in the global promotional tags market are – National Band & Tag Company, Universal Tag, Inc. and Gemini Industries.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Promotional Tags Market

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