NetPlus Alliance distributor members continue to look forward with optimism, despite concerns over the upcoming election, inventory challenges, and talent constraints, according to the latest NetPlus Alliance Industry Outlook, a quarterly report based on a survey of NetPlus members.
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The NetPlus Alliance Industry Outlook tracks business results and trends in the industrial and contractor supply markets. The latest quarterly survey was completed in February 2024, and the outlook was based on fourth-quarter results for 2023.
Nearly 49% of NetPlus Alliance distributor members reported significant gains (+8% or more) in 2023 sales compared with 2022, with an additional 20% reporting moderate gains (+3-7%).
A favorable economy, end-of-year spending, bigger orders, and diversified product lines were reported as the main drivers of growth. Other reasons included new customers, new vendors, and better marketing, among others.
Nearly 37% anticipate significant growth, and another 38% forecast moderate sales gains in 2024.
“2023 was another record year for NetPlus as our member purchases were up 18% over 2022,” said Dan Judge, founder of NetPlus Alliance. “Additionally, nearly three-fourths of respondents expect business to continue to grow in 2024. This shows me our distributors are planning for success though employee development, investing in technology and enhanced efficiencies, while continuing to lead with purpose and values.”
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.
