ATLANTA – The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) has released their First Quarter 2015 Commercial Foodservice Business Barometer; a member-sourced report compiling intelligence from the leading sales and marketing agencies in the commercial foodservice industry across the United States and Canada.
Overall sales for Q1/15 compared with Q1/14 grew by a healthy 4.7 percent, stronger than the previous quarter's report of 2.9 percent, and is slightly higher than the 4.5 percent level that had been previously forecasted.
Overall sales for North America by Product Group varied from 5.6 percent in Tabletop, 5.0 percent in Equipment, 5.0 percent in Supplies/Smallwares, and 0.4 percent in Furnishings.
Regional variations persisted, but all areas showed improvement in overall sales, ranging from 6.0 percent in the Midwest, 5.6 percent in the West, 5.1 percent in Canada, 4.3 percent in the South, and 3.0 percent in the Northeast.
Across North America, foodservice equipment sub?category sales varied from 6.7 percent Refrigeration and Ice Machines, 5.1 percent Primary Cooking, 4.2 percent Food Preparation, 4.1 percent Storage and Handling, 3.4 percent Serving, 2.9 percent Warewashing/Sanitation, and 0.1 percent in Ventilation.
Within the overall sector of equipment there were also wide variations by regions, and as follows: 6.2 percent in the Midwest, 6.1 percent in the West, 5.1 percent in Canada, 4.4 percent in the South, and 2.9 percent in the Northeast.
Fifty-eight percent of MAFSI rep members report “More Quoting Activity” which is 10 percent above the third quarter and on par with the fourth quarter for 2014. Forty-nine percent of members report “More Consultant Activity”, up from 47 percent, and 39 percent over the previous two quarters; both of which are very healthy leading indicators.
“With solid sales gains and future prospects, manufacturers’ sales reps, dealers, consultants, and manufacturers themselves, are all in an expansion mode to handle increased business,” said MAFSI Executive Director, Alison Cody.
“The pipeline is surely filling, lead times are growing, companies are hiring, R&D spending and new product launches are increasing, and expectations are raised. This might be the best market we have seen in the 13 year history of the MAFSI Commercial Foodservice Business Barometer.”
Prospects for the second quarter remain firm with a forecast of 4.6 percent in overall sales, and are fairly evenly projected from all regions.
The MAFSI Commercial Foodservice Business Barometer is a proprietary, member-only benefit compiled solely by the members of MAFSI. To obtain all past and future Commercial Foodservice Business Barometers, and the 2015 MAFSI Commercial Foodservice Market Forecast, interested parties must join MAFSI. To become a member, please call 404-214-9474, email info@mafsi.org, or visit www.mafsi.org.
About MAFSI
The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) is a 65 year-old, professional trade association comprised of 250+ independent sales and marketing agencies and 240+ manufacturers of commercial foodservice equipment, supplies, tabletop and furnishings. Representing over 2,400 sales and marketing professionals and manufacturing executives across North America, MAFSI provides market forecasting, networking and partnership opportunities, industry stewardship, education and resources, and member advocacy for the $10 billion commercial foodservice equipment, supply, tabletop, and furniture industry. For more information about MAFSI, please call 404-214-9474, email info@mafsi.org, or visit www.mafsi.org.
About The MAFSI Commercial Foodservice Business Barometer
The quarterly MAFSI Commercial Foodservice Business Barometer is one of the foodservice industry’s foremost snap shot of market dynamics on the non-food side, as well as sales and quoting projections. Cited in countless media outlets, and relied on by many Wall St. investment firms, the MAFSI Commercial Foodservice Business Barometer covers all pertinent areas of non-food foodservice items including equipment, supplies, tabletop, and furnishings. Beginning in the first quarter of 2013, the Barometer Report included market data for seven additional equipment subcategories including primary cooking equipment, refrigeration and ice machines, storage and handling equipment, food preparation equipment, serving equipment, warewashing and sanitation, and ventilation.
Source: Manufacturers’ Agents Association for the Foodservice Industry (MAFSI)
