An Indianapolis Awards Shop Explains the Projected Industry Growth

Indianapolis – An awards shop in Indianapolis recently took note of Technavio’s report predicting growth in the personalized gift market. According to the report, the market is believed to have reached USD 1.59 billion once 2024 hits. As a provider of personalized items, Bardach Awards quickly took notice of this projection and is sharing it with their community.

Technavio’s report includes many details of their projection of the personalized gift market, such as the differences between each plausible scenario: optimistic, probable, and pessimistic. In conclusion, their data shows that the personalized gift industry should grow by more than three percent in the year 2021 alone.

As a result of the pandemic, many individuals and businesses are looking for ways to show others they care. Therefore, the market is becoming saturated with gifts. Technavio believes that because of this saturation, a personalized gift will be the first choice for many consumers, thus provoking industry growth. On top of that, Technavio also points out that custom 3D printed items are growing in popularity, which will also contribute to industry growth.

It is predicted that around 67 percent of the personalized gift market growth will come from non-photo items. This is because products such as personalized coolers, personalized podcasts, personalized songs, and more are gradually gaining popularity. The personalized gift industry will be hard to slow down with all this growth into niche areas.

Bardach Awards was founded in 1969, and since then, the company has always strived to serve their community with the award items they want at the best prices. They carry a wide variety of products, ranging from corporate awards and custom name tags to sports trophies and promotional products. The making of each of their products begins with using top-quality materials and ends with attention to detail, making sure it is exactly how the recipient wants it. For more information, visit Bardach Awards today at www.bardachawards.com or give them a call at (317) 872-4434.