Stone Column

“People need to step it up and start spending”

January 5, 2012
/ Print / Reprints /
ShareMore
/ Text Size+
I was talking about the current business situation with a colleague lately, and they came up with a very succinct way of solving the economic crisis, which I have decided to make the headline of this column. It sounds simplistic, but it is 100% on point. This statement is particularly relevant in the stone industry right now, and the positive results of our latest survey of stone fabricators will hopefully serve as a precursor to it actually happening. Our annual “Fabricator Market Forecast,” which begins on page 58 of this issue, has been conducted by the Market Research Department at BNP Media (Stone World’s parent company) for well more than a decade, and the feedback we received this year is more positive than it has been in years.

I strongly encourage you to read the full report on page 58, but here are some highlights:

• A total of 56% of fabricators saw their business grow during 2011. In 2010, only 30% said they saw growth. Meanwhile, 25% of respondents said that business held steady in 2011, and only 19% of those polled said that business declined for the year.

• A total of 51% of respondents said the stone market will increase in 2012; 43% said it would stay the same; and only 6% said there would be further declines.

• The vast majority of fabricators (83%) predicted that the market for stone will increase over the next five to 10 years, with another 17% stating that it would remain stable. Almost no one (1%) predicted a decline.

• A total of one in four fabricators (25%) said that they did not make any spending cuts in 2011 (in 2010, that figure was 16%). Whether it was personnel, equipment, stock or facilities, cuts in 2011 were significantly down from the previous year.

• More than half of the fabricators we polled (56%) said they would be spending on equipment this year.

• More than one out of six fabricators (17%) said that they would be investing in a CNC stoneworking center this year, and they expect to be spending a mean dollar amount of $175,000.

• Perhaps considering the increased emphasis on shop safety, 37.7% of respondents said they would be investing in material handling technology this year, with a mean value of $24,630.

 

Now, fabricators saying that they will invest in technology is not the same as them actually buying it. But considering the other positive factors — business growth in 2011, short-term and long-term optimism, etc. — I have a strong feeling there will be more spending among stone fabricators in 2012. Hopefully that starts at StonExpo later this month. See you there!

Did you enjoy this article? Click here to subscribe to Stone World 

Recent Articles by Michael Reis

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

November 2013 Stone Products Gallery

Take a look at some of the latest stone industry products.

THE MAGAZINE

Stone World Magazine

April 2014 stone world cover

2014 April

In this month's issue of Stone World, check out an extensive preview of Coverings 2014, which will be celebrating its 25th anniversary in April. Also learn more about various types of limestone that were used to build private residences.

Table Of Contents Subscribe

Contemporary Stone & Tile Design Magazine

CSTD_Spring2014_Cover.jpg

2014 Spring

This issue of Contemporary Stone & Tile Design includes our annual focus on Kitchen and Bath design

Table Of Contents Subscribe

Training Program

How formal is your training program for new employees?
View Results Poll Archive

The Stone World Store

How_To_Polish_&_Restore_Mar.gif
How to Polish & Restore Marble Flooring

This video will show you step-by-step how to resurface and polish marble flooring from grinding and removing lippage and scratches to achieving a highly reflective polish.

More Products

Italian Trade Commission Coverings exhibitor preview

Italian Trade Commission logo 2

The Italian Trade Commission is presenting a large group of the most innovative and internationally renowned Italian suppliers of dimensional natural stones. We hope your busy schedule will allow you to join us for a “genuine” espresso in booth N. 4045 and explore the exciting Italian natural stone resources offered by our exhibitors. Check out Italian stone producers exhibiting at Coverings 2014 here!

  

Stone Industry Education

stone industry educationStone Industry Education is sponsored by Stone World Magazine and Marble Institute of America. The SIE events will help you: strengthen your skills, build your business, and  increase profit in your shop.  Check out stoneindustryeducation.com to register for upcoming fabricator and installer seminars.

STAY CONNECTED

facebook logo Twitter  YouTube