//Buying Group Hub: What a Difference a Year Makes

Buying Group Hub: What a Difference a Year Makes

By Michael Beaudoin
Executive Vice President, ALLPRO

In 2023, there was a major reset in terms of the numbers we had to work through, and business finished down -5.4% with the fourth quarter being the toughest. Then, like a light switch, the business felt different starting January 1. We continued to fight and were up for the year slightly after the first quarter. Then in April, we had the single largest billing month in the history of the group and May’s numbers came in equally as strong, with the group tracking to be up about 10% heading toward midyear.

Aside from the numbers, there is optimism within the group that feels completely different from this time last year. As I knew they would, members spent last year working on their businesses in the face of margin and sales losses, which seemed to depict 2023. They adjusted inventories, reorganized their businesses and started this year determined to take back market share. This attitude was certainly felt at our spring show where numerous suppliers reported record sales. Members are now opening new stores as well as diversifying their business models to expand into new categories.

ALLPRO is doing its part to continue to expand and create value for its stakeholders. The spring show was the largest to date, which is a testament to our continued investment in this event. Another recent investment was the ALLPRO U Member Roundtable we hosted in Chicago in May. The event welcomed about 60 members and 100 attendees who spent two days with a robust agenda that included a presentation from world-renowned health expert Chris Johnson (author of “Eat Rest Move”) and roundtable sessions where members with stores close in size were paired to discuss strategies on how to handle many of the “blocking and tackling” subjects facing small businesses. Mike Coffey also spoke on strategies for competing with Sherwin-Williams.

The investments will continue as we are planning a Next Gen event at the upcoming Stockholders Meeting in Austin. We are also looking to conduct a Women’s Only event soon either at the Stockholders Meeting or in San Antonio in the spring. In addition, we are adding new categories such as decorative finishes, industrial coatings and lacquer programs, which seem to be driving the growth in the distribution centers. Our goal this year is to continue to invest in events and programs that have the maximum benefit to the greatest number of members and that also contribute to our foundational success as a group.