Customization

Changes are automatically saved. Reset Settings

IMARK Plumbing Announces 2024
Executive Sales Outlook Survey Results

March 2024 IMARK News
Open Interactive

Thank you to all members and suppliers who responded to the 2024 Sales Outlook Survey, which provided the following results.

Members’ General Assessment of Economic Conditions in 2024

  • 34% of respondents predicted that economic conditions will be better in 2024 as compared to 2023.
  • 43% of respondents predict that economic conditions will be about the same in 2024 as compared to 2023.
  • 23% of respondents predict that the economic conditions in 2024 will be worse compared to 2023.

Suppliers’ General Assessment of Economic Conditions in 2024

  • 49% of respondents predicted that economic conditions will be better in 2024 as compared to 2023.
  • 43% of respondents predict that economic conditions will be about the same in 2024 as compared to 2023.
  • 8% of respondents predict that the economic conditions in 2024 will be worse compared to 2023.

Members’ 2024 Sales Growth Projections

  • 28% of respondents expect sales to decrease in 2024 compared to 2023.
  • 48% of respondents predict sales increases in 2024 of 0%-5% compared to 2023.
  • 17% of respondents predict sales increases in 2024 of 6%-10% compared to 2023.
  • 7% of respondents predict sales increases in 2024 of 15%+ compared to 2023.

Suppliers’ 2024 Sales Growth Projections

  • 3% of respondents expect sales to decrease in 2024 compared to 2023.
  • 51% of respondents predict sales increases in 2024 of 0%-5% compared to 2023.
  • 26% of respondents predict sales increases in 2024 of 6%-10% compared to 2023.
  • 20% of respondents predict sales increases in 2024 of 15%+ compared to 2023.

Members predicted market segments that will provide the most substantial growth potential in 2024:

  • 40% Residential (single family)
  • 19% Commercial Facilities (new construction/MRO)
  • 15% Residential (multi-unit)
  • 10% Institutional (new construction/MRO), i.e. schools, hospitals, prisons, etc.
  • 5% Industrial Facilities (new construction/MRO)
  • 5% Irrigation/Waterworks
  • 4% Government/Military
  • 2% Other (repair, pool, HVAC)

Suppliers estimated the percentage of overall 2024 product sales will be installed by the following market segments:

  • 31% Residential (single family)
  • 20% Residential (multi-unit)
  • 17% Commercial Facilities (new construction/MRO)
  • 10% Irrigation/Waterworks
  • 9% Institutional (new construction/MRO), i.e. schools, hospitals, prisons, etc.
  • 8% Industrial Facilities (new construction/MRO)
  • 4% Government/Military
  • 1% Other (water well, pool/pump)

Members indicated the region of the United States where they expect to generate the majority of their 2024 sales:

  • 17% South Atlantic (DE, DC, FL, GA, MD, NC, SC, WV, VA)
  • 17% East North Central (IL, IN, MI, OH, WI)
  • 15% Mid-Atlantic (NY, NJ, PA)
  • 14% Pacific (CA, OR, WA, AK, HI)
  • 10% West South Central (AR, LA, OK, TX)
  • 8% West North Central (IA, KS, MN, MO, NE, ND, SD)
  • 7% East South Central (AL, KY, MS, TN),
  • 6% New England (ME, CT, VT, NH, MA, RI)
  • 6% Mountain (AZ, CO, ID, NV, UT, MT, WY, NM)