Omni President Bob Hoff addresses the crowd at the Luxury Products Group Luxury Showcase in Palm Desert, Calif.
Photo credit: Mike Miazga/Supply House Times
Omni Corporate Services’ most recent Business Conditions Survey again reveals positive trends in a number of categories. The report was released at the Omni Spring Meeting 2013 in Palm Desert, Calif.
Compared to the last six months of 2011, 57% of Omni member respondents reported an increase in total sales. New construction and remodeling categories fared the best with 47% of member respondents reporting an increase in new construction sales and 46% reporting an uptick in remodeling business. On the commercial end, 38% of member respondents saw an increase in sales, while 21% reported gains in industrial sales.
Inventory increases were reported by 38% of member respondents.
Looking ahead, the survey shows 61% of member respondents project total sales to increase in the first six months of 2013. Again, new construction and remodeling foster the most optimism with 55% of respondents projecting an increase in new construction sales and 52% predicting gains in remodeling sales. Members were more cautious with projections for commercial and industrial sales with 43% projecting an increase in commercial business and 24% predicting an increase in industrial sales.
Inventory increases were projected by 31% of member respondents for the first six months of 2013, while 51% projected inventories will stay the same during that time frame.
In keeping with recent industry trends, survey results varied by each of Omni’s five regions. For instance, in Region III (Southwest) 75% of survey respondents reported total sales increases compared to the last six months of 2011, while 63% in Region I (Midwest) reported increases. Region I led the way with increased inventories (reported by 54% of respondents), while 46% of survey respondents in Region III noted inventory gains.
“There is a great deal of optimism across the country in all segments of the market,” Omni President Bob Hoffsaid. “There is a lot of pent-up demand.”
Prior to Omni, Luxury Products Group held its fourth Luxury Showcase event in Palm Desert. Hoff is equally pleased with the growth LPG has seen since its inception in 2010. The 2013 show drew 300 attendees. For more on LPG, read this month’s Supply House Times Profile.
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- Luxury Products Group (LPG)
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