After falling slightly into the negative in the previous week, Indian River Consulting Group's latest weekly Distributor Pandemic Revenue Index (PRI) rebounded to one of its best readings since the start of the pandemic.
For the selling week of Nov. 2-6, the PRI had a reading of +8.6 percent, meaning that for the 12 distributors surveyed (1 fewer than the week before), their average sales for that week were up 8.6 percent year-over-year. It follows readings of -0.4, +6.8, +2.6, -0.4, -0.7 and +4.9 in the previous six weeks.
IRCG aims for the PRI to show a snapshot of how industrial distributors' sales have fared during the pandemic compared to a year earlier.
"This is one of the best non-holiday influenced weeks we’ve seen since February," noted IRCG partner Mike Emerson.
Emerson also noted that eight of the 12 distributors surveyed showed year-over-year increases, with a range from 4 to 46 percent. The four distributors with decreases has a range of -2 to -13 percent.
IRCG would like to increase the sample size for the PRI, so if you would like to include your company, reach out to IRCG partner Mike Emerson at firstname.lastname@example.org.
The chart below shows the percent change in sales in 2020 compared with the same week in 2019, unadjusted for additional selling days for the week of July 4 and Labor Day: