Review pricing strategies to survive economic uncertainty | Lineage Logistics expands in Europe with Spain HQ | Research: Wholesale woos DTC brands with stability
Industrial products distributors need to pay close attention to how their pricing strategies affect their bottom line, with an eye toward reconsidering discounts, cost-plus pricing models and system pricing, writes Pete Eppele, senior vice president of products and science for Zilliant. "[C]onsider a more nuanced approach in which smaller price decreases are implemented in a more agile and intentional manner," Eppele writes, adding that this approach will allow companies "to retain more margin -- and if a recession is on the horizon -- success means holding onto pricing and margin gains for as long as possible."
Lineage Logistics has expanded its presence in Europe with the opening of a Southern Europe headquarters in Madrid. The temperature-controlled solutions provider has 70 cold chain facilities in 11 European countries and recently more than doubled the capacity of a cold-storage facility in Aarhus, Denmark.
Many direct-to-consumer brands are spending more on wholesale distribution than on marketing, citing wholesale's relative stability, according to research from Glossy and Modern Retail. In the next year, more DTC brands expect to enlarge their wholesale presence compared with those planning to expand marketing budgets, the research shows.
Injecting intelligent automation throughout the supply chain process can help companies better compete in volatile times, Alex Pradhan of John Galt Solutions writes. Pradhan discusses the importance of the proper automation, panoramic visibility, predictive analysis and digital twins.
The 3.6% vacancy rate among US industrial properties during the first quarter marked the second consecutive quarter of increases, but remained below the 4.3% five-year quarterly average, according to a report from real estate firm Cushman & Wakefield. "I think we'll see a more normalized market than the frenzied pace of the past 24 months," says Jason Tolliver, Cushman & Wakefield's executive managing director.
ChatGPT can be valuable for handling time-consuming tasks such as keyword research, crafting boilerplate ad copy and helping overcome writers' block, writes Playbook Media CEO Bryan Karas. However, marketers should avoid using it for external efforts without any human input and refrain from using it "as a shortcut for skills you know you need to learn."
Leaders can and should nip office disrespect in the bud before it starts to affect the atmosphere and productivity, writes executive coach Gregg Ward, the executive director of the Center for Respectful Leadership. "We don't have to like a person to work with them, but we do have to have a level of respect for them," Ward says.
It's sometimes hard to know what drives a "know-it-all" coworker, but thanking them for their input while staying your course, or using their habit of speaking up to encourage others to talk as well, can blunt their impact on you and your team, write Karin Hurt and David Dye. "Of course, the way you approach the conversation with your know-it-all will vary based on your relationship and their receptivity to the conversation," they write.
Join the best and brightest emerging leaders from across the wholesale distribution industry for a unique course at The Ohio State University! The course will take place from May 22-26, 2023. View the agenda and register.
