MAFSI Releases Fourth Quarter 2015 Commercial Foodservice Business Barometer
February 24, 2016 | 3 min to read
ATLANTA — The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) has released their Fourth 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.
The Foodservice Equipment and Supplies market finished the year strong with an overall performance of +4.9% for North America, outperforming the level forecasted in the previous quarter’s Barometer Report of +4.3%.
Sales varied by region, led by the West at +6.9%, Midwest +5.6%, South +4.3%, Northeast +4.2% and Canada, which trailed at +1%. By product type, Equipment grew +5.1%, Tabletop +4.7%, Supply +4.0%, and Furniture +2.8%. For Q1/16, reps are forecasting more moderate growth of +4.3%.
Quoting activity remains healthy at 54% of reps reporting more, while 45% of reps are reporting busier consultant activity. At the 2016 MAFSI Business Development Conference, reps and manufacturers alike were very positive about future business prospects.
“In short, the foodservice market is outperforming the economy as a whole, as both a low unemployment rate and falling gasoline prices benefit restaurant sales,” said MAFSI Executive Director, Alison Cody.
“Even during our annual conference in January, when the stock market was tanking, and oil prices were setting ten year lows, our members couldn’t stop talking about their excitement for the economic future of foodservice.”
Looking forward, the overall forecast for first quarter sales of 2016 are at +4.3 percent, and are consistent with members’ yearly sales forecasts of +4.5 percent as reported in the 2016 MAFSI Commercial Foodservice Market Forecast.
The MAFSI Commercial Foodservice Business Barometer is a proprietary, member-only benefit compiled solely by the members of MAFSI. To obtain a copy of the full report of the fourth quarter Commercial Foodservice Business Barometer, any past and future Barometer reports, or the 2016 MAFSI Commercial Foodservice Market Forecast, 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 66 year-old, professional trade association comprised of 265+ independent sales and marketing agencies and 260+ 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 $11 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 shots 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 2014, the Barometer Report included market data for seven additional equipment sub-categories 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)