{"id":16004,"date":"2020-07-24T14:19:12","date_gmt":"2020-07-24T14:19:12","guid":{"rendered":"https:\/\/fieldnation.com\/resources\/volume-growth-volatility\/"},"modified":"2024-08-21T21:35:59","modified_gmt":"2024-08-21T21:35:59","slug":"volume-growth-volatility","status":"publish","type":"post","link":"https:\/\/fieldnation.com\/resources\/volume-growth-volatility","title":{"rendered":"Volume growth and volatility continue"},"content":{"rendered":"<p><em>Insights posted 7.24.20<\/em><\/p>\n<p><span style=\"font-weight: 400;\">Our latest Field Intelligence report shows continued improvement in market conditions, despite ongoing volatility.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During week 29 (the week of July 20), the upward trend in overall work volume continued. We also see favorable geographic trends, with nearly 80 percent of U.S. states posting year-over-year growth. Finally, our marketplace data indicates a rise in activity across an increasing number of companies.\u00a0<\/span><\/p>\n<a name=\"volume-trends-up-despite-fluctuations\" class=\"fldn-table-of-contents-anchor\"><\/a><h2 id=\"volume-trends-up-despite-fluctuations\">Volume trends up despite fluctuations<\/h2>\n<p><span style=\"font-weight: 400;\">After a decrease in week 27 (the week of July 6), overall work volume on the Field Nation marketplaces is on the rise again in week 29 (the week of July 20). What caused the temporary decline? While it\u2019s difficult to say for certain, new COVID-related restrictions likely contributed. <\/span><a href=\"https:\/\/www.usatoday.com\/story\/news\/health\/2020\/07\/16\/covid-19-states-including-california-michigan-try-halt-spread\/5444903002\/\"><span style=\"font-weight: 400;\">More than half of U.S. states have now paused or reversed their reopenings<\/span><\/a><span style=\"font-weight: 400;\">, which can have a ripple effect on field services.\u00a0<\/span><\/p>\n<p><a href=\"\/wp-content\/uploads\/2020\/07\/field-intel-data-volume-viz_v6.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14174 size-full\" src=\"\/wp-content\/uploads\/2020\/07\/field-intel-data-volume-viz_v6.png?_t=1595599887\" alt=\"Weekly field service volume 2020 vs 2019\" width=\"711\" height=\"400\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">During week 29, work order volume increased <\/span><span style=\"font-weight: 400;\">by 10 percent<\/span><span style=\"font-weight: 400;\">. Overall, work order volume is normalizing around 2019 levels. We believe that weekly fluctuations will continue as field services businesses adapt to the \u201cnew normal.\u201d<\/span><\/p>\n<a name=\"geographic-trends-show-positive-signs\" class=\"fldn-table-of-contents-anchor\"><\/a><h2 id=\"geographic-trends-show-positive-signs\">Geographic trends show positive signs<\/h2>\n<p><span style=\"font-weight: 400;\">Nearly 40 out of 50 states have now reported positive year-over-year growth.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Similar to findings in our <\/span><a href=\"\/insights\/recovery-second-half-of-2020\"><span style=\"font-weight: 400;\">previous Field Nation report,<\/span><\/a><span style=\"font-weight: 400;\"> the largest states continue to make dramatic gains. California, Texas, New York, and Florida have surpassed their 2019 volumes.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"\/wp-content\/uploads\/2020\/07\/field-intel-data-volume-viz_v62.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14175 size-full\" src=\"\/wp-content\/uploads\/2020\/07\/field-intel-data-volume-viz_v62.png?_t=1595599959\" alt=\"field service growth by state 2020 april vs july\" width=\"711\" height=\"400\" \/><\/a><\/p>\n<p><a href=\"\/wp-content\/uploads\/2020\/07\/field-intel-data-viz_v6.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14176 size-full\" src=\"\/wp-content\/uploads\/2020\/07\/field-intel-data-viz_v6.png?_t=1595600034\" alt=\"field service growth by state week 29 2020 map\" width=\"711\" height=\"500\" \/><\/a><\/p>\n<p><b>More companies contributing to a growth pattern<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Another encouraging trend is the growing number of companies contributing to the recovery. In week 26, 45 customers comprised 80 percent of our marketplace volume. By week 27, 80 customers contributed to 80 percent of marketplace volume. Last week, week 29, 117 customers made up 80 percent of the volume. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The market recovery becomes increasingly sustainable as growth spreads across a larger base of companies.<\/span><\/p>\n<p><b>Businesses experiencing \u201cV-shaped\u201d growth<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Across our customer base, we see many additional companies experiencing a \u201cV-shaped\u201d recovery. While many businesses are still operating at lower volumes, the activity level is steadily improving. Here are a few of the recent projects we have seen across our marketplace:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Point-of-sale installation for coffeehouse chain<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Outdoor digital signage troubleshooting for a restaurant chain<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Emergency break\/fix work for a discount retailer<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Site survey and install for automated package lockers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In-home installations for accessibility devices\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Point-of-sale, networking, and security work for automotive services<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Despite virus-related closures and slowdowns, data from our network points to a continued steady market improvement despite ongoing volatility. Equally promising, an increasing number of companies, in a growing number of states, are showing signs of recovery. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our latest Field Intelligence report shows continued improvement in market conditions, despite ongoing volatility.\u00a0<\/p>\n","protected":false},"author":53,"featured_media":16639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"xn-wppe-expiration":[],"xn-wppe-expiration-action":[],"xn-wppe-expiration-prefix":[],"footnotes":""},"content-group":[],"class_list":["post-16004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","fldn_content_category-trends","fldn_content_type-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Volume growth and volatility continue | Field Nation<\/title>\n<meta name=\"description\" content=\"In week 29 (July) 2020, the field services industry continues to recover, but volatility remains. 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