PPAI Releases Landmark Study Showing Branded Merchandise Supports $170 Billion in U.S. Economic Activity and 1.2 Million Jobs

Oxford Economics finds Americans spent $174 billion on merch in 2025, generating $37 billion in tax revenues

IRVING, Texas--(BUSINESS WIRE)--Branded merchandise is a significant contributor to the United States economy, supporting $170.2 billion in U.S. GDP, 1.2 million American jobs and $37 billion in tax revenues in 2025, according to a landmark study commissioned by Promotional Products Association International (PPAI).

Conducted by independent global advisory firm Oxford Economics, the Branded Merchandise Global Market Report measures the industry end to end, from manufacturing and decoration to distribution, retail, e-commerce, fulfillment, marketing and brand activation.

The United States is the world’s largest branded merchandise market, contributing to:

• $174 billion in spending, representing approximately 51 percent of global spending
• $170.2 billion to the U.S. GDP
• 1.2 million U.S. jobs supported
• $37 billion in U.S. tax revenues; enough to fund the entire 2025 budget of the state of Georgia

Globally, merch also makes an impact, supporting $472.3 billion in worldwide GDP and 11.9 million jobs.

“Branded merchandise is deeply woven into the way American organizations connect with employees and customers,” said Drew Holmgreen, president and CEO of PPAI. “This research shows the scale behind those connections.”

Measuring the Global Ripple Effect

The report examines of the industry through three channels of economic impact (direct, indirect and induced), demonstrating how activity generated by branded merchandise extends well beyond the businesses that directly create and sell the products.

The analysis revealed that, for every $1 million in GDP generated directly by the industry, an additional $1.95 million was supported elsewhere in the global economy. The findings also broaden the definition of branded merchandise beyond traditional promotional products. The study includes licensed merchandise, apparel and workwear, retail-branded goods, creator merchandise, print-on-demand and e-commerce products, recognition gifts and merchandise used in marketing, events and brand activations. What unites them is their role as tangible expressions of a brand.

About Oxford Economics

Oxford Economics is a key adviser to corporate, financial, and government decision-makers and thought leaders. Its worldwide client base now comprises over 3,000 international organizations.

About PPAI

Promotional Products Association International (PPAI) is the world’s largest and longest-running not-for-profit branded merchandise association with a 123-year history of serving a community that has grown to some 15,000 corporate members.