With more than half of the respondents to Stone World’s annual Purchasing Plan Survey counting on increased sales in the coming year, it appears 2020 is starting off on a high note among fabricators
Overall, the majority of those polled in Stone World’s recent Purchasing Plan Survey, which is conducted by Clear Seas Research Department at BNP Media (Stone World’s parent company), seem optimistic about their businesses in 2020. While investments might not reach as high as last year, there are fabricators who are planning to spend some money. This year’s survey results suggest large machinery and management software are a top priority for many fabricators. We were also happy to see safety ranks high with the majority of respondents, as they hold regular meetings to discuss issues and protocol with their workers and inforce mandatory hearing and lung capacity tests. The following is a detailed account of where the group of polled industry members stand on their predictions and practices for 2020.
While the majority of participants’ expectations for the coming year are positive, there is a drop in the overall optimism for 2020 compared to last year. While 67% believe sales will increase this year, it is a 15% drop from the 82% that believed sales would increase in 2019. A total of 26% feel sales will remain the same, while 7% foresee a decrease in revenue. The mean average of 19% growth is a 7% decrease from last year’s results, but is equal to the results that were predicted for 2018.