SALES: DURING YOUR LAST MEASUREMENT PERIOD, WERE SALES UP OR DOWN? BY HOW MUCH?
1% Down 5%
3% No change or 0%
Not only are shippers embracing logistics IT, but they’ve been making significant investments in those solutions. In 2023, as in 2022, 96% of survey respondents report increased sales in the most recent measurement period. In 2023, 55% have seen sales increase by 20%. Another 32% have seen growth of 10% or more. Only 3% report no change, and just 1% saw revenues drop—and that by only 5%.
0% Did not report 0% Down 10% or more
PROFITS: DURING YOUR LAST MEASUREMENT PERIOD, WERE PROFITS UP OR DOWN? BY HOW MUCH?
1% Down 10% or more
Logistics IT is a profitable market as well as a growing one. In 2023, 87% of vendors who responded to our survey report that profits increased in the last measurement period. For 76% of vendors, growth was strong, with profits up 10% or more. This continues the trend of 2022, when 86% of vendors reported that profits were up, and 75% saw an increase of 10% or more. Some vendors—12%—saw no change in profits. Only 1% netted less in the most recent measurement period than in the previous one.
No change or 0%
0% Did not report 0% Down 5%
GROWTH: WHAT LED TO GROWTH IN THE PAST YEAR?
Mergers and acquisitions might have been all the rage in recent years, but among suppliers of logistics IT that trend is slowing. Only 1% of respondents attributed their growth over the past year to M&A. Twelve percent of vendors say their growth came from a mix of organic sales and M&A, compared with 18% in 2022. In contrast, 87% say their growth came thanks entirely to organic sales, an increase over the 81% who cited direct sales in 2022.
60 Inbound Logistics • April 2023
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