The world as we know it has changed so much in the past two months. Everything we took for granted it gone. So of it will never come back again. What was totally normal in the past is not normal any more and vice versa. It seems that everything we used to do has somehow changed. It leaves me wondering if things will every be the same again. The same can be said about the economic system our businesses find themselves in. This Wuhan corona virus, which originated China and then spread around the world, seems to also have changed the way we do business. So many businesses have been effected and the question is whether they will ever be able to trade as they once did.
Fortunately the government, businesses and the general population are eager to return to normal. What we lost may not have been perfect but it was better than what we have now. Surely there are lessons that can be learned and new habit that can be retained, like cleanliness, but generally we yearn for the freedom we once had and we will have it again. The government has already started to ease restriction all around the country. NSW seems to be coming out first and the rest are following behind. There are cures and vaccines that are being worked on all over the world are giving us hope. The population should also start developing herd immunity to this Wuhan virus. All of these things put together give us reason to be positive.
So the question is where will promotional products be in the future? How will it effect the industry and will there be the role for promotional products and customer merchandise? I think the answer to that is both complex and simple at the same time. In the short term there may be delays in having a situation that resembles what we left behind. If you think of the concerts, the exhibitions and conferences that have been cancelled of delay. Even the Olympics was put on hold due to the Wuhan corona virus. The slow down in the retail sector, segment of the economy that is accustomed to have POS promotions and other giveaways also doesn’t help. All of these sectors will impact to the state of the promotional products industry in the short term. There are still products in high demand like hand sanitiser, but alone can not make up for lost demand for promotional products.