MAFSI Barometer: Sales Growth Continues To Slow

In its latest Foodservice Business Barometer, MAFSI reports overall sales growth for Q2/23 once again dropped significantly to +4.1%, short of the quarterly sales forecast of +4.5% and down from the first quarter level of +6.6%. The results represent the eighth consecutive quarter (two years) of lessening growth. MAFSI projects Q3/23 to slow even further to +3.5%.

The Q2/23 results vary by product categories and geographies. The Northeast reports only +0.7% overall growth for Q2/23 and -0.4% contraction for Q3/23. By region, sales for Q2/23 are +6.4% South, +5.0% Midwest, +4.5% West, +2.8% Canada and only +0.7% Northeast.

MAFSI reports that reps are sensing a slowing down of both consultant and quoting activity with 25% reporting less consultant work versus 9% last quarter, and 35% reporting less quoting versus 22% last quarter. Some manufacturers, both public and private, have reported declines in sales, MAFSI says.