The NPD Group has released its latest forecast for the US B2B Technology channel. They’re predicting a 2% decline in revenue for 2022, although a return to growth in 2023.
We are seeing some of why – IDC says PC monitor demand shrunk for the first time since the pandemic started. It’s the first year-over-year decline – 7.2% down compared to the same quarter in 2020.
Continuing to look ahead, Robert Half, the HR consulting group that reports on salary data, predicts an average pay increase of 3.8% in 2022. Continued high demand in cloud computing, AI/machine learning, and data analytics.
However, the Federal Reserve notes that the US is on the cusp of full employment.
Why do we care?
I’ll be doing my own predictions series next week… but this data is something of an insight. Don’t assume sunshine and unicorns ahead.
Eventually, that pandemic buying buzz would slow, and monitor sales seemed like a good indicator. As 2022 begins, revenue may be slightly off, but note those salary pressures. That’s the more significant concern for services companies.