Average annual sales growth for 12 months through Sept. was 19.6% for Heating, Air-conditioning & Refrigeration Distributors International.
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While the recovery well is underway, the NetPlus quarterly survey also said the labor shortage was a cause for concern going forward.
Technology orders were up 72% year-over-year in April according to the latest U.S. Manufacturing Technology Orders report by AMT.
Thirteen lessons from distributors who are finding the silver linings in COVID-19.
Talk of a potential slowdown isnt stopping these manufacturers and distributors from anticipating a relatively strong year ahead.
The industry is at an inflection point from a melting pot of trends that have been boiling over into more sectors of distribution. The biggest burner has been the technology revolution, which has us in this venturi of intensifying heat that is testing traditional distribution models like never before.
Distributors and manufacturers alike are facing similar challenges when it comes to attracting and retaining the right employees for their organization. Issues include the growing cost of wages, a shortage of available qualified laborers and an aging workforce.
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Despite some softening in the first half of 2019, most MDM Trends survey respondents feel relatively optimistic about the coming year, but would like to see the tariff dispute come to an end.
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Distributors and manufacturers are increasingly investing in digital capabilities to reach larger audiences, understand customer preferences and grow their business.
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In MDMs 2019 Market Trends survey, we asked the industry to share whats on your mind as we head into 2020. The start of a new decade is carrying some old concerns with it, namely challenges surrounding retention and acquisition of talent, updating and taking advantage of evolving technology and the possibility of dealing with an economic downturn.
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As we approach the next decade, this industry is at an inflection point from a melting pot of trends that have been boiling over into more sectors of distribution.
