North American Barter Association Confirms Record 2006 Barter Growth
Survey indicates more merchants becoming barter savvy.
(PRWEB) September 9, 2006 -- Today Shirley McBride, director of NABA’s research department announced that more merchants than ever have become aware of the barter option. According to an August survey that was just analyzed, only 12% of 1,000 merchants surveyed at random acoss the U.S., Canada, and Mexico were not aware of bartering benefits, which is down a full 5% from just a year ago. “The word is spreading rapidly – barter is great for business” McBride beamed.
Indeed, over 60% of Fortune 500 companies now use barter on a regular basis to rid themselves of excess inventory and balance their books every quarter. One Midwest CFO called barter “the great equalizer” and one from Seattle called barter “my best tool ever”. But perhaps the most accurate description for commercial barter came from a Florida builder who claims “Barter is my morning after pill for most of my mistakes”. Merchants are quickly learning that barter is a flexible resource that comes in handy almost every month, giving them the peace of mind that unsold inventory is becoming an obsolete nightmare. Barter is king in the media and printing sectors accounting for as much as 30% of all transactions.
The trend has spread well into the small business arena as armies of barter agents are pounding the pavement from more than 2,000 barter exchanges in North America. “NABA predicted a record barter boom for 2006 and we are on track to hit or even exceed $30 billion this year”. Added NABA Director Nathan Forbes. NABA attributes the growing trend to increased barter conventions, like the one just recently held by NATE in Toronto, and keen competition which forces merchants to seek out every competitive advantage possible. In addition publications like the Barter News and Barter-Blog are finding their way to a growing audience who are no more than just curious. “Who doesn’t want to save money”? asked a carpet wholesaler in Boston. Websites like www.irta.com are getting dozens of new visitors every day. “Barter has increased my cash flow by 22%” stated Richard Boucharde of Montreal who owns a catering business. There is seldom a down side to barter as most any CPA will confirm.
What does the future hold for barter? The North American Barter Association forecasts $50 billion a year within the next three years and as international barter fully blossoms, this figure can easily double within five years, especially if India and China catch the barter bug. “I honestly don’t expect barter to peak out any time soon” stated Forbes who went on to explain “The barter industry is virtually recession-proof, and thrives especially well in turbulent an uncertain times when merchants may not feel secure about outside forces they cannot control, like interest rates, trade sanctions, and shortages. Barter gives merchants a bigger buffer zone between success and failure”.
Barter can be traced all the way back to Biblical times and after all these years, one thing has become increasingly very clear – this versatile business tool will be playing a growing role on a global basis very soon.
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