NetPlus Alliance Industry Outlook Report: 88% of Distributor Members Anticipate Sales Growth in 2023
Nearly 58% of NetPlus Alliance distributor members saw sales growth of 8% or more in Q1.
NetPlus Alliance distributor members remain optimistic about 2023 revenue, despite talent challenges and lingering inventory obstacles, according to the latest NetPlus Alliance Industry Outlook, a quarterly report based on a survey of NetPlus members.
The NetPlus Alliance Industry Outlook tracks business results and trends in the industrial and contractor supply markets. The latest quarterly survey was completed in April 2023, and the outlook was based on the first-quarter results for 2023.
Nearly 58% of NetPlus Alliance distributor members saw significant sales growth in the first quarter of 2023 (+8% or more) over those in the first quarter of last year. Another 21% reported moderate growth. Waning supply chain challenges were reported as a main contributor to growth. Other reasons included overall increased demand and new project starts.
Eighty-eight percent of NetPlus distributors in the survey think their business will grow by more than 3% this year. Their optimism is fueled by:
- Improved supply chain activity
- Increased confidence in plant updates
- Branch expansion
- New business growth
- Greater focus on sales and marketing
- Product availability
- New product lines
- Addition of salespeople
“Forecasting the rest of 2023 is a challenge thanks to recession talks, and elements of the economy and politics causing some concern,” said Dan Judge, founder of NetPlus Alliance. “But our members are forward-looking and focused on continuous improvement in their companies. They are optimistic for the remainder of the year. I think our members are growing their business because they are proactively taking significant steps to do so.”
About NetPlus Alliance
NetPlus Alliance builds relationships and provides opportunities for the advancement of member companies for their long-term success in the supply chain. With more than 100 years of combined industrial distribution experience, NetPlus Alliance negotiates improved pricing, rebates, and terms with more than 200 manufacturers on behalf of 415 industrial and contractor supplies distributor members.
Our members drive market growth and profitability through stronger channel partnerships, financial incentives, progressive marketing, joint sales planning, training programs, and business best practices.
Learn more about NetPlus Alliance at netplusalliance.com or contact Molly Greene, Director of Marketing, (716) 438-2014.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
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Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
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