After a rough start to the year, sales of foodservice equipment and supplies seem poised for a big comeback, according to the latest data from the Manufacturers Agents’ Association for the Foodservice Industry.
During the first quarter of 2021, sales of foodservice equipment and supplies declined 2.1%, per the latest MAFSI Business Barometer. While still down, this represents a significant improvement compared to the fourth quarter of 2020 when MAFSI members reported a 19.4% decline in sales of foodservice equipment and supplies. And this significantly beats reps’ forecast of a 18.9% sales decline for the first quarter of 2021.
Looking at sales performance by product category, furniture grew by 0.3%, while equipment declined by 1.1%, supply items dipped by 3.9%, and tabletop dropped by 9.7%. On a regional basis, sales varied, too, due to a variety of factors. Sales in the West declined 9.8% and the Midwest dipped 7.7%. In contrast, sales in the Northeast grew 0.3% and Canada grew by 2.7% and the South saw sales increase by 5.8%.
The forecast for the second quarter of 2021 calls for even sunnier skies for those selling foodservice equipment and supplies. Reps project a 21.4% sales increase in Canada, 15.6% in the West, 15.3% in the Northeast and Midwest as well as 14.6% in the South.
Supporting this positive outlook is the fact that 81% of reps report an increase in quoting activity and 56% say they expect more activity among foodservice designers.