Channel Marketing Group, Raleigh, NC, and William Blair released their Q2 Pulse of Lighting report which draws on input from more than 200 distributors, manufacturers and reps/agents. The lighting market remains strong with higher expectations in Q3 2018. Key highlights of the report include:
- 5-7% sales growth (changes by audience) in the face of a 4% price erosion due to the competitive environment and product mix
- Key growth segments are the small to medium-sized renovation projects with industrial retrofits gaining some traction. The large new construction market is the slowest growth segment.
- About one-third of distributor respondents stated that they have increased their inventory levels
- Strong expectations for Q3 … and this is further evidenced by a higher percent reporting an increase in their backlog.
- When asked about IoT adoption and lighting controls, feedback is that there is slow adoption of IoT as defined as “customer requests” but the percent of projects/proposals that include lighting controls remains strong.
- The “Big 7” lighting companies share of business may be in further decline. The share of sales for the Top 7 lighting companies, based on distributor input, declined 3.2 points to 58.1% from 62.3
To learn more about this report’s findings click here. To purchase the complete report, with respondent comments for only $19, go to the Research Reports section on ElectricalTrends. Survey respondents received a complimentary copy of the report.