ISA debuts Industrial Markets Report

By Industrial Distribution staff -- Industrial Distribution, 6/5/2008 12:16:00 PM

The education portion of this year’s Conference & Trade Fair took place on the final day of the show and members packed the room for the presentation of ISA’s new Industrial Markets Report, which gives detailed product consumption data for 14 ISA product categories (abrasives, fasteners, rubber products, safety products and saws, to name a few). For each of the 14 categories, the report gives product consumption data for the U.S. and Canada, offers statistical trend data and lists the top 100 U.S. metropolitan areas and counties based on consumption data.

The purpose of the report is to help members quantify markets, identify sales potential and manage sales resources better, according to ISA.

The 14 product classes represent nearly $134 billion, according to ISA committee members John Jacobsen of Sandvik Coromant Co., and Ed Gerber of Industrial Distribution Group, who gave an overview of the report.

Bill Hodgdon of Hodgdon Consulting Services ran the second part of the presentation, explaining how ISA members can use the report to grow business. Among his key points, Hodgdon warned members against being seduced by the big numbers in the report.

“Consider your size, your [market] share and set meaningful goals,” he said, explaining that a $10 million distributor with 4 percent market share in Pittsburgh probably shouldn’t be lured to Philadelphia by the promise of huge market potential for his products there. “Don’t look at these big numbers and set lofty goals. Take a realistic look. … See where your share is and then concentrate on building share in your region.”

All attendees received a copy of the Industrial Markets Report following the meeting. Members not in attendance will receive the report upon payment of their upcoming membership dues renewal.