NAHAD Reports Track Hose Sales Trends
NAHAD members now have a valuable tool to track their sales against current industry averages and to project their growth against future sales forecasts.
The monthly NAHAD Industry Trends Reports, initiated earlier this year and developed in partnership with Cleveland Research Company, is a free member benefit that aggregates sales data of participating companies and generates informative results and forecasts based on that data. Simple online surveys are sent to all members each month, with the full Report then provided to each participant the following month.
"The new NAHAD Trends Reports offer important data for members to use as they manage their businesses each month," noted Joseph Thompson, NAHAD Executive V.P. "The simple monthly survey provides an easy way for members to participate and the monthly Reports that they then receive are filled with useful data, specific to hose sales and markets. And, it's free for all participants."
The May 2011 NAHAD Industry Trends Report includes the following highlight notes. The full Report contains numerous charts and comparative data as well as analysis and commentary.
NAHAD Index -
The NAHAD index for the month of April produced a reading of 62.7, which is down from the March reading of 78.3. This indicates that the hose and accessory industry expanded at a slower rate compared with March.
Sales Growth -
Sales rose an average of 11% year-over-year in April, slower than the 20% average in March. April had one less selling day compared with April 2010 which is about a 4-5% headwind to growth in the month. On average, distributor sales rose 11%, slightly slower than manufacturers who reported average growth of 12%.
2011 Outlook Improves Again -
Despite the slower growth pace in April, the full year outlook for 2011 increased for the third consecutive month. On average, participants are now forecasting full year growth of 17%, up from a prior estimate calling for 14% growth.
Fewer Selling Days Impact April: When reviewing this months results it's important to note that April had two fewer selling days compared to March and one less than April 2010.
Sales Growth (year-over-year): Sales rose an average of 11% year-over-year in April, down from the 20% average in March.
Distributors vs. Manufacturers: On average, distributor sales rose 11%, slightly slower than manufacturers who reported average growth of 12%.
Sequential Momentum: On a sequential basis, a net 5% of members saw sales accelerate between April and March (40% higher, 26% same, 35% lower).
Results vs. Expectations: A net 15% of participants categorized April sales as better-than-expected (34% better, 47% same; 19% worse), up from down from 60% in March.
End Markets: Notably, all 22 end markets ranked in positive territory in April, which is consistent with March, February, January, and December. This highlights the broad-based nature of the current industrial recovery. Oil & gas, MRO, mining, industrial machinery OEM, and power generation head the list of top performing markets.
The complete May 2011 NAHAD Industry Trends Report is available for viewing at http://www.nahad.org/pdf/May2011ITR.pdf
Be sure to watch your email for the next monthly survey.