Get ready for an uncertain 2023, according to Paul Murfin, president, Taylor Adhesives, who provided an analysis of the industry's business climate going into 2023 in the company's most recent episode of Taylor Time Live.
"It's going to be a very uncertain 2023," said Murfin. "Clearly, [there will be] residential challenges, especially in the remodel/replacement and new housing markets. Hopefully, some bright spots in the commercial market and also multifamily. [It's going to be] a very challenging year that we are up against. People are going to have to be very creative in a difficult market—how they are going to sell more product; how they are going to increase their business."
According to Murfin, one of the ways in which sales professionals/installers/contractors/distributors can boost their bottom line is by doing a better job of selling accessories. As part of the accessories category, Taylor Adhesives is working to help those that utilize its products better understand the category.
"I think adhesive manufacturers as a whole, we tend to speak too technically to our customers and to our industry partners about the products we sell," Murfin said. "We are going to try to find ways to help the typical sales person in the industry understand the category and, over time, do a more effective job of not only understanding it but also being able to sell it."
Watch the full episode here.