Sales of foodservice equipment and supplies increased by 1.1% during the fourth quarter of 2023, per the data from the Manufacturers’ Agents Association for the Foodservice Industry.

This was 0.9% less than the growth rate from the third quarter of 2023 and .6% less than what reps forecasted for the fourth quarter of 2023. Reps project sales of foodservice equipment and supplies will increase 0.5% for the first quarter of 2024 and 3.6% for the year.

On a regional basis, sales in the fourth quarter declined 0.6% in the Northeast and 0.4% in Canada. Sales increased 0.1% in the West 0.1%, 0.5% in the South 0.5% and 3.2% in the Midwest.

Looking at results by product type, reps report furniture sales increased 2.9%, followed by equipment at 1%, tabletop at 0.9% and supply items at 0.5%.

Quoting activity represents something of a mixed bag. While 34% of reps report more quoting activity in the fourth quarter of 2023, 43% report no change and 23% report a decline. In terms of consultant activity, 49% of reps report no change, while 29% report an increase in this area and 22% report a decline.