January 10, 2022
Report: iPROMOTEu’s Order Volume Tops $180M in 2021
The reported tally surpasses the Top 40 promo products distributor’s performances in 2020 and in 2019.
Top 40 promotional products distributor iPROMOTEu (asi/232119) overcame industry-wide supply chain challenges and what the firm described as a “sluggish” first quarter to grow its business in 2021.
That’s according to the Wayland, MA-headquartered company’s CEO/founder Ross Silverstein, who shared in a communication that 2021’s order volume exceeded $180 million.
Not only did the 2021 performance best the COVID-affected year of 2020, when iPROMOTEu’s North American promo revenue tallied $165 million, it also surpassed the total from 2019 ($178 million) – the last year in which the marketplace was not affected by the pandemic.
“Remarkably, 2021 was one of iPROMOTEu’s best years in its 20-plus-year history,” said Silverstein, a member of Counselor’s Power 50 ranking of the most influential people in promo. “All in all, iPROMOTEu weathered the COVID-19 storm quite impressively. And, as we journey into a new year, I am excited and extremely optimistic about iPROMOTEu’s prospects, and the prospects for all our affiliates.”
Following what Silverstein said was a “sluggish” first quarter, “sales really took off … and remained strong throughout the year.” In 2021, iPROMOTEu processed more than 120,000 orders – a 13% increase over the number of orders processed in 2020.
“This is equivalent to 480 orders per business day, 60 orders per hour, and one order every minute,” Silverstein noted, adding that average order size in 2021 surpassed 2019 levels.
Industry-wide, promo distributors’ sales declined, on average, by 14.8% in the first quarter of 2021, compared to the same period the year prior, according to the ASI Distributor Quarterly Sales Survey.
Distributors’ collective sales rose, on average, by 27.3% year over year in the second quarter and 18.4% in the third quarter. Fourth-quarter and full-year performance is currently being researched.
During the second quarter of 2021, iPROMOTEu debuted its iSUITE Order Management System, which was the result of multiple years of research, development and testing. iPROMOTEu affiliates were given time to get familiar with the program during 2021. A complete switchover to iSUITE occurred Jan. 1, 2022.
“Without question, iSUITE is a superior order management system,” Silverstein said. “It is easier and faster to use, and it is much better in so many respects.”
As of early January 2022, iPROMOTEu’s network consisted of 609 independent distributor affiliates throughout the United States and Canada. A total of 55 independent distributors or experienced former salespeople joined iPROMOTEu in 2021, Silverstein said. Affiliates retain their name and their ownership.
Based on reported 2020 North American promotional product revenue of $165 million, iPROMOTEu ranked 14th on Counselor’s most recent list of the industry’s largest distributors.