NetPlus Outlook Shows Solid Member Growth Despite Concerns - Modern Distribution Management

NetPlus Outlook Shows Solid Member Growth Despite Concerns

Some surveyed distributors remain cautious due to high interest rate, inflation, poor economy and a general slowing of business.
NetPlus

NetPlus Alliance members are mostly optimistic for the second half of 2024, though some distributors are cautious due to election uncertainty, high interest rates and inflation, according to the group’s latest Industry Outlook report.

The industrial and contractor supplies buying group said that 26% of member distributors reported significant gains (+8% or more) in 2024’s second quarter, with an additional 28% reporting moderate gains (+3%-7%).

Distributors said that new customers, NetPlus Alliance membership, hiring more effective sales reps and expanded product offerings contributed to this growth.

About two-thirds of respondents expect sales growth for the full-year of 2024. Members identified their top three opportunities for the next 12 months as product diversification (38%), new talent (32%) and operational improvements (32%).

“The future is always uncertain,” NetPlus Alliance President and CEO Jennifer Murphy said in a Sept. 24 news release. “However, our members are hard at work growing their businesses, reorganizing sales teams, improving operations and expanding geographically.”

In its latest quarterly survey, NetPlus Alliance reported a 13.1% increase in distributors’ purchases from NetPlus suppliers, while purchases rose more than 10% year-over-year.

The NetPlus Alliance Industry Outlook tracks business results and trends in the industrial and contractor supply markets. The latest quarterly survey was completed in July 2024, and the outlook was based on second-quarter results.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!