When Indian River Consulting Group's Distributor Pandemic Revenue Index showed year-over-year growth near 20 percent in the three weeks spanning Christmas and New Year's, the expectation was that those weeks were likely considerably skewed by the timing of the holidays on business. That turned out to be correct, as the following three weeks reverted back to the mid-single-digit growth that the index had seen for most of the previous three months.
However, major growth in the newest PRI appears promising, as it showed one of the best non-holiday-impacted weeks since IRCG began the index nearly a year ago.
For the week of Feb. 2-5, the PRI checked in at +14.1, meaning that for the 13 distributors surveyed, their year-over-year sales were up by 14.1 percent on average. It followed readings of +6.4, +3.9 and +4.6 percent in the prior three weeks, respectively. The PRI — aimed to provide a weekly snapshot of how industrial distributors' sales have fared during the pandemic compared to a year earlier — has now been in growth territory for 12 consecutive weeks.
Of the newest PRI's 13 distributors surveyed, 11 reported year-over-year increases, ranging from mid-single digits to above 50 percent, while two companies reported declines.
IRCG would like to increase the sample size for the PRI, so if you would like to include your company, reach out to Emerson at [email protected].
The chart below shows the weekly percent change in year-over-year sales, unadjusted for holiday impacts: