Blog2024-Q3 Market Outlook Report Now Available

     

This quarter’s report shows that, while somewhat below the anticipated growth distributors had expected, Q3 Bookings growth was positive.

Principal Shelley Rosetta states, “There is positive pipeline activity in all regions, including Canada and the Northeast, which showed some softening in Q2. In addition to the regional breakdown, we finally see activity in all sectors show steady growth, with Education, Financial Government and Corporate leading the way. We anticipate this will continue through the remainder of the year.”

Head of business analytics, John Jospeh also shares, “The channel appears to be growing at a slow, steady pace. Though bookings growth this past quarter came in lower than originally expected, it remained positive, and we are seeing cautious optimism for the end of the year and the start of 2025, with respondents anticipating 3.5% and 1.7% bookings growth in the next two quarters.”

Key Findings This Quarter

• Actual Bookings growth of 1.9% was less than half the 4.2% forecasted three months ago. Notably, no regions had negative bookings growth though the Northeast was flat, largely mirroring regional expectations predicted for this quarter.
• Last quarter, dealers predicted a flat Q4 for Bookings but are now expecting a healthy 3.5% growth rate followed by 1.7% in the first quarter of the new year.
• Growth in Billings and Backlog both slipped from the previous quarter but remain positive at 4.8% and 1.2%, respectively.
• Distributor Pipeline Activity is positive for every region though only slightly so in the Northeast, and positive in every sector though only marginally in Hospitality, Technology, and Finance.

Report Access

Intelligence gained through the Market Outlook program reflects frontline distributor knowledge of markets across North America and is grounded in distributor sentiment regarding future expectations.

Distributors that complete the quarterly survey receive a full report containing regional and subregional information, where available. To view the current report, visit: www.solomoncoyle.com/dealer-market-outlook-report/. For inquiries regarding participation, email support@solomoncoyle.com.