New Suppliers Earning High Marks These firms didn’t make our original rankings but matched or exceeded the average growth rate of PPAI 100 suppliers from 2019-2022. BoxUp A custom boxing supplier based out of Terre Haute, Indiana, BoxUp grew by 291% in revenue from 2019-2022. MediaTree Founded in 1995, the New Jersey-based supplier grew 399% in revenue over the three-year period from 2019-2022. Opti Print and Fulfillment The Dallas-based supplier offers turnkey production services on a wide range of lenticular products. Opti Print and Fulfillment showed a 93% revenue growth from 2019-2022. Radius Display Products Founded as “Display Products” in 1977, the Dallas-based company changed its name to Radius Display Products in 2007 to represent the full melding of two lines. Its revenue doubled from 2019-2022. Distributor Benchmarking TABLE 1 Revenue Change Since 2019 PPAI 100 Distributors 28% Distributors $250M+ 48% Distributors $50M-$250M 15% Distributors $25M-$50M 21% Distributors $10M-$25M 28% Distributors $1M-$10M 47% Distributors Under $1M 72% Ross Silverstein Steve Brungart Must Read | The State of Growth 2023 Leaders Growth 20 23 Ellis again notes the likelihood of the survey incentive skewing data among smaller company respondents. It is worth noting, however, that PPAI’s 2022 Sales Volume Estimate showed a rebound year for distributors making less than $2.5 million. Steve Brungart of ShowYourLogo says that the process of doing business and reacting to global and economic conditions kept his distributorship so busy that he never thought to look up those growth numbers for his own company, which turned out to be in line with his segment. Brungart is also eager to see what average revenue change from 2022 to 2023 will look like. “We started out very strong for 2023 but hit a slow patch in the third quarter,” Brungart says. “Things are starting to ramp back up. We’ll probably beat our 2022 numbers, but it’ll be close.” Ross Silverstein, president and CEO of iPROMOTEu, sees these new client numbers as higher than expected and leaves him with as many new questions as answers. “Across the board, roughly 20% of billed revenue is coming from new clients,” Silverstein says. “Given that all categories are experiencing this 20% phenomena, the business isn’t moving from one group to another. Rather, the overall business must be increasing – but 20% is inexplicably high.” As a whole, the industry grew 15.6% in 2022, according to PPAI’s Sales Volume Estimate. TABLE 2 Revenue From New Clients PPAI 100 Distributors 20% Distributors $250M+ 22% Distributors $50M-$250M 21% Distributors $25M-$50M 17% Distributors $10M-$25M 17% Distributors $1M-$10M 17% Distributors Under $1M 19% 74 • DECEMBER 2023 • PPAI
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