News reports indicate that manufacturing is starting a slow return to pre-COVID business. Barron’s reported the Federal Reserve is stating that in June, Industrial production climbed 5.4% while manufacturing output jumped 7.2% compared to a month earlier. Reports also reference that gains are not totally due to the rise in automobile production as they came out of their shutdown.
We here at PlastiCert are seeing a huge rise in demand. Our inquiries and requests for quotes on new projects through half of July is up almost 90% over the prior months at their midpoint.
As we have talked about in the past, PlastiCert does not have a sales force. We do not pursue new customers making cold calls. We use our web presence through actively posting our news and accomplishments. That results in your searches for injection molding bringing you to us. Even more so if you are searching for low/medium volumes, mold design and value add work. We feel that is a more cost-effective measure for us and help keeps SG&A expenses lower to make our pricing that much more advantageous for our customers.
While these are only inquiries, our win ratio implies that we will be winning some new customers and adding to existing customer programs over the next two quarters.