1/21/2014 10:42:00 PM
FIN SURVEY
Roughly one in three fastener businesses — 37% — successfully raised prices in 2013, according to the FIN Survey.
Price increases ranged from 2% to 10%, with an average increase of 3.3%.
Nearly four in ten respondents — 39% — reported flat pricing for 2013.
Pricing pressure moderated somewhat, as 11% of FIN Survey participants reported price reductions during the year, down from 12% of fastener companies that cut prices the previous year.
Price reductions in 2013 ranged from 2% to 10%, with an average decrease of 5.9%, compared to a 7.9% average price cut in 2012.
For 2014, 54% of businesses forecast price gains — the same as last year — while 25% anticipate no price changes this year.
Of the businesses predicting price hikes, 52% expect “moderate” increases and 2% forecast “strong” gains.
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