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Image credit: B2BecNews
US Manufacturing Growth for 19th Consecutive Month!
According to the Institute of Supply Management, “Manufacturing expanded in March as the PMI® registered 59.3%, a decrease of 1.5% from the February reading of 60.8 percent. This indicates strong growth in manufacturing for the 19th consecutive month, led by continued expansion in new orders, production activity, employment and inventories, with suppliers continuing to struggle delivering to demand.” Of the 18 manufacturing industries represented in the index, 17 reported growth in March, led by ‘Fabricated Metal Products’ then ‘Plastics and Rubber Products’.
B2B Manufacturing eCommerce
The charts at the top of this blog and on the right are from B2BecNews 2018 E-Commerce and Manufacturing Survey of ~140 manufacturers. Assuming this is representative of the 250,000 US manufacturers then ~60% (26.2%+14.3%+16.7%= 57.2%) have less than 10% of total revenue from eCommerce so are just getting going. On the other hand the other 40% (16.7%+7.1%+19.1%= 42.9%) have more than 10% of total revenue from eCommerce including 19.1% having more than half their revenue from eCommerce! The other chart above shows the $ value of that eCommerce revenue. Please read the report for yourself but another interesting insight is the high volume of eCommerce sales gained as recurring orders from existing customers.
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