On average, businesses reported year-over-year revenue growth at +2.4% in the third quarter of 2019, which is below the forecasted +3.1% level, according to the latest Baird Industrial Distribution Survey, conducted in partnership with Modern Distribution Management. Growth decelerated 80 basis points compared to last quarter’s survey, marking the third consecutive quarter of slowing growth. This trend reflects weaker momentum in the industrial sector.
A lack of financing, experience and access to talent often keep distributors from engaging in e-commerce, a recent MDM survey found. But having an online sales channel is critical to new customer discovery, MDM’s John Gunderson said in a recent webcast, with more than 80% of distributors expecting their online presence to grow moderately or significantly in the next five years.