‘Top 3 in 5’ July Insights: Weaker Month for Sales, Revised Growth Forecast, First Look at 2025 Expectations

Posted in Industry News on August 16, 2024

In this episode of Top 3 in 5, Brendan and Evan discuss July being a weaker month for sales, finishing down 1% as cautiousness around spending persisted, and demand remained sluggish. Looking ahead, distributors have revised their growth forecasts from 4% to 3%, with the upcoming election being a looming factor contributing to this continued sluggishness. Listen in to get a first look at 2025 forecast expectations.

About Top 3 in 5:

Through our partnership with the Cleveland Research Company, a premier consulting market intelligence firm specializing in channel research, we’re able to bring ISA Members the results of a monthly survey of industrial distributors to get a pulse on what’s going on in our industry. This quantitative data, supplemented with qualitative data collected by conversations with industry professionals, provides a great benchmark of the market, allowing us to get into the drivers of why things are changing and helping us identify changes quicker than the PMI or ISM.

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To all ISA Members and ISA Atlanta 2020 Attendees,

After continuous monitoring of the evolving situation with the novel coronavirus (COVID-19) and much deliberation, the Industrial Supply Association (ISA) is announcing today that the ISA Board of Directors have voted to cancel ISA Atlanta 2020 scheduled to take place April 20-22 in Atlanta, Georgia. Everyone at ISA understands and appreciates the time, effort, and resources that you have put into preparing for this event. Like you, we have been working hard, and were looking forward to coming together to Engage, Learn and Lead.

This decision was made after careful review of the most recent facts from the Centers for Disease Control (CDC), World Health Organization (WHO), the Georgia Department of Public Health and other local authorities. Ultimately, the health, safety and well-being of our members, management team and the community at large led to this decision. Although difficult, as this decision comes at a significant cost to ISA which is a nonprofit, we know it’s the right thing to do.

With that in mind, it’s important to note that ISA is YOUR ASSOCIATION and ISA is OUR INDUSTRY. With over 118 years of history, our mission is to provide the strategies and tools to help companies remain relevant throughout industry change. This global pandemic, combined with the accelerating disruption we all are facing, demonstrates now more than ever the need for ISA to continue its pursuit of Leading the Channel Forward®.

The good news is that we have the financial strength to weather this storm. We plan to access our financial reserves to make that happen. These reserves are intended to protect ISA in times like this and for investing in value added programs that benefit ISA members and our industry.

With this decision, we are prepared to refund 100% of all registration, booth and sponsorship fees. However, recognizing the significant impact on our reserves, we are asking for your consideration in donating your registration, booth fees and/or sponsorships to the ISA Foundation, all or in part, at the level your organization is able to support. Foundation funds will only be used for education, research and/or scholarships and your organization will be recognized as a supporting patron of the Foundation helping ISA continue its mission critical purpose. Your donation will help continue the momentum and fuel the future of the Industrial MROP Channel. We recognize the magnitude of this ask, but if each company can help in some way, together, we will strengthen ISA, our community and industry overall.

In the coming weeks, a member of the ISA team will contact all ISA Atlanta 2020 participants to discuss refunds and or donations. Due to the large number of companies and attendees we ask for your patience as we begin this process. This is a priority and will be given the urgency it deserves.

In closing, I would like to thank everyone that has reached out with overwhelming support and positive feedback regarding the path and mission we are on. To all, please keep an eye out for upcoming announcements regarding the Lifetime Achievement Award, Innovation Impact Awards, Phase 2 Analytics for Distributor, Manufacturers and IMRs, Scholarships and so much more.

On behalf of the ISA Board of Directors, I would like to thank you for your patience throughout this decision-making process and your commitment to your association – ISA.

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