PPB June 2021

How do your sales in Q1 2021 compare with sales in Q1 2020? We finished the quarter up 28 percent over 2020. We see things shifting back to more “normal” the deeper into the year we go. What are the biggest issues or trends that are influencing your sales right now? The demand for e-stores and drop shipping remains strong. We see a lack of inventory with suppliers and the increased cost of products and shipping as potential issues. We also see the challenge of maintaining a positive mindset and remaining upbeat as something to focus on with our teams. In general terms, what are your revenue expectations for the company by year-end? I have high expectations of repeating or improving upon our growth last year and ending equal to or greater than our 2020 sales that were up more than 40 percent over 2019. Andy Shape President and CEO Stran Promotional Solutions Quincy, Massachusetts In broad terms, what has the past year has been like for your company financially? Stran had a strong 2020 overall and revenue increased by more than 25 percent year-over-year. We attribute our success in 2020 to several factors. First, was the extensive project that Stran executed for the U.S. Census [see the case study on p. 28] which was well under way before the pandemic hit and continued throughout the pandemic. Second, was an early pivot to PPE sales that resulted in incremental revenue that replaced some of our traditional program sales that were down due to the effects of COVID-19. Finally, our acquisition of Wildman Imprints in Q4 2020 has added significant revenue and continues to generate new opportunities in new geographies and verticals. What changes have been necessary in your company over the past 12 months? We have responded to the challenges of the past year by developing a company-wide strategy and sticking to our hardworking culture and core value of delivering creative merchandise solutions that effectively promote brands. We continue to focus on our core group of customers while providing additional value-added services, offering new technology solutions that drive efficiencies and proposing alternative product offerings based on each client’s unique needs. We also continue to solicit and market ourselves to long-term prospects that have shown interest in Stran. We have remained committed to being a customer-focused, solutions- oriented company that provides our customers with a comprehensive offering that is more than just products alone. Below are some of the specific ways we have responded to over the past year. • Adhered to all state and federal social distancing requirements while prioritizing health and safety for our employees. We allowed team members to work remotely, allowing us to continue providing uninterrupted sales and service to our customers throughout the year. • Emphasized and established cost- savings initiatives, cost control processes and cash conservation to preserve liquidity. • Explored acquisition opportunities and executed the acquisition of Wildman Imprints with historical revenue exceeding $10 million annually. • Retained key customers through constant communication, making proactive product or program suggestions, driving program efficiencies and delivering value- added solutions to help themmarket themselves more effectively. • Concentrated and succeeded in earning business from clients in specific verticals that have spent more during the pandemic (health care, digital entertainment, beverage, cannabis and consumer packaged goods) • Retained key employees by continuing to provide themwith competitive compensation and the tools required to be successful in their jobs • Refocused our marketing activities on more client-specific, revenue- —Bart Simpson “ WE’VE BEEN INVESTING HEAVILY INTO OUR TECH INFRASTRUCTURE AND HAVE RETOOLED OUR ENTIRE SALES PROCESS. ” What Distributor Principals Are Saying About Sales | FEATURE | JUNE 2021 | 47