Channel Marketing Group, sponsored by William Blair, released the results of its Q3’22 Pulse of Lighting survey. The survey had 200 respondents total, consisting of 66 distributors and 134 manufacturer personnel, lighting agents, and reps. Below are highlights of the survey to give insight about the state of the industry:
- Distributors reported an 8.98% increase in sales versus the previous quarter, down slightly from the 9.42% increase in Q2. Distributor performance paints a picture of “growing but slowing sales” as DISC, an electrical industry source, once described it.
- Manufacturers reported a 9.43% increase in sales, an improvement over Q2’s 7.64%. This also beat manufacturers’ projection of 8.44% for Q3.
- Reps and agents reported growth of 6.27%, down from 7.47% in Q2. This is well below the projected sales of 8.44%. Reps are now much more conservative about their projections for Q4.
All three respondent groups reported growth and project additional growth for the future, giving the industry good reason to remain optimistic and continue to innovate. It is important to note these are just a few highlights from Channel Marketing Group’s report. The full report goes in depth and has a wealth of additional information on topics like pricing trends, price increases, and 6-month specifier outlook. Visit here for more insight and to purchase the full report for just $29.