Merchant & Distributor News Good growth in total value sales

The latest Plumbing & Heating Merchant Index (PHMI) report, published in May, suggests positive trends for specialist plumbing and heating merchants who saw total value sales up 9.6% in Q1 2023 compared to the same period in 2022. This growth was driven by both higher volume sales (0.4%) and price increases (9.1%). Moreover, the like-for-like sales, adjusted for trading day differences, also showed a healthy growth of 7.8%.

Quarter-on-quarter, Q1 2023 sales were 4.0% higher than Q4 2022. Volume sales climbed 4.3% while prices fell 0.3%. With five more trading days in the most recent quarter, like-for-like sales were down 4.2%.

Total value sales for April 2022 to March 2023 were 9.2% higher than the same 12

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months the previous year. Volume sales were marginally down (0.4%) but prices were 9.6% up. With two less trading days in the most recent period, like-for-like sales were 10.1% higher. March 2023 value sales were 6.3% up on the same month a year ago, inflated by price rises (7.2%) as volumes were lower (0.9%). There was no difference in trading days. Monthon-month, March value sales were 11.3% higher than February. Volume sales were up 12.3% and prices were down 0.9%.

Mike Rigby, CEO of MRA Research, which produces the report, says this year could be “tough for merchants”, but there will always be opportunities to increase sales when you follow the trends to give customers what they want.