MAFSI Business Barometer Reports Sales for Q1/22 Remain Strong but are Tempering; Marketplace Dealing with Economic Headwinds

MAFSI Business Barometer Reports Sales for Q1/22 Remain Strong but are Tempering; Marketplace Dealing with Economic Headwinds

MAFSI
Post by MAFSI
June 17, 2022
MAFSI Business Barometer Reports Sales for Q1/22 Remain Strong but are Tempering; Marketplace Dealing with Economic Headwinds

Overall sales in Q3/21 climbed by +15.4% compared to Q3/20. This was less than the +20.7% increase that had been forecasted for Q3/21 and less than the +19.1% advance of Q2/21. It should be recognized, however, that Q2/20 was the nadir of the 2020 pandemic whereas Q3/20 was less severe, hence they are uneven prior year comparables.

MBB Q1.22  Overall NA graph

Overall sales for Q1/22 continued strong at +15.2%, a bit short of the forecast of +16.8%, less than the gain of +17.3% of Q4/21, and down from the MBB record gain of +19.1% of Q2/21. These results, as well as the forecast of +13.2% for Q2/22 represent the gradual tempering of the Food Service business climate as our industry moves towards normalization.

MBB Q1.22  Equipment Sub Categories

The breakdown for Q1/22 overall sales by category was +21.5% for Tabletop, +17.9% for Supplies, +14.8% for Equipment, and +7.7% for Furniture. By Region, the Northeast recorded a gain of +18.9%, followed by Canada at +17.1%, the South at +15.8%, the Midwest at +15.7%, and the West at +8.2%.

Consultant Activity also slipped a notch to 40% reporting More vs. 49% More last quarter. Quotation Activity held at 57% reporting More.

MBB Q1.22 Quoting and Consulting

The price escalation of most Food Service Equipment products has outpaced the overall Producer Price Index (PPI) by a margin of 2 to 3 times faster. As increasing supply is gradually catching up somewhat to slowing demand, lead times have begun to show some improvement.

See Full Report - Qtr 1  2022 MAFSI Business Barometer

Executive Summary written by Michael R. Posternak, PBAC & Associates LTD. Eastchester, NY mp@pbacrep.com

MAFSI
Post by MAFSI
June 17, 2022
MAFSI is a 76-year-old non-profit trade association comprised of 240+ independent manufacturers' representative sales agencies and 220+ manufacturing companies in North America selling and marketing commercial foodservice equipment, supplies, tabletop, furnishings and jan/san/disposables. Our members provide any non-food product that goes into restaurants or non-commercial establishments such as schools, hospitals, hotels, stadiums, prisons, etc. Representing over 2,400 manufacturers’ sales reps, manufacturing executives, sales managers and customer service managers across North America. MAFSI provides education, market forecasting, online training, specification tracking software, networking and partnership opportunities, industry stewardship, guidelines and resources, and member advocacy for the $15 billion commercial foodservice equipment, supply, tabletop, furniture and janitorial, sanitation and disposables industry.

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