Truckers add to fleets ahead of Calif. zero-emissions rule | Boise Cascade to open Colo. millwork production center | Hy-Vee unveils own retail media network
Logistics companies are adding trucks to their fleets ahead of an emissions rule that takes effect Jan. 1 in California mandating that all new purchases of trucks that serve ports should be zero-emissions. Diesel trucks will be banned by 2035, but trucking executives say the advances in electric truck technology and charging infrastructure are still needed, and such trucks are triple the cost of their diesel counterparts.
Boise Cascade is adding a 127,000-square-foot millwork facility for prehung doors and other products in Commerce City, Colo., which is expected to begin production early next year. The announcement comes after Boise Cascade acquired doors and millwork distributor Brockway-Smith last month.
Hy-Vee has announced the creation of Hy-Vee RedMedia -- its own retail media network that will connect its shoppers with consumer packaged goods brands via various platforms and interactions. "Retail media is outpacing traditional marketing and will be a game-changer in consumer marketing," said Jason Farver, president of Hy-Vee RedMedia.
How will AI impact your industry now – and in the future? The virtual SmartBrief AI Impact Summit, Sept. 27 & 28, features globally renowned AI experts, including a live keynote from Zack Kass, Futurist with OpenAI, creator of ChatGPT. Also on the agenda: experts from Nasdaq, Deloitte, Togal.AI, Teladoc Health, GitHub and other industry-leading organizations.
Register Now
Customers who seek out a new distributor are more often doing so to gain "a more proactive, consultative sales experience" as long as the price point and product selection meet their needs, writes Proton.ai CEO Benj Cohen. One way sales reps can improve their selling and data analysis is through AI, which can give reps insight on the best time and product to sell "so they can act like forecasting analysts without having to be one," Cohen writes.
Nearly 30% of online shoppers now expect to receive online orders in one to two days, up from 21% in 2022, while those expecting them in three to four days had dropped from 64% in 2022 to 60% in 2023, according to a Ryder survey. Free shipping is the most significant deciding factor in where they'll shop for 64% of online purchasers and 81% abandon carts if they face unexpected shipping costs.
The Port of Los Angeles experienced a 3% year-over-year increase in cargo volume in August, which marks its first increase in 13 months, according to port officials. Port of Los Angeles Executive Director Gene Seroka says the recent contract ratification between International Longshore and Warehouse Union and the Pacific Maritime Association boosted shipper confidence but noted demand remains lower than usual as they maintain excess inventory.
Heather Freeland, chief brand officer at Adobe, and winner of Adweek's B2B Innovation Award Visionary of the Year, talks about the marketing strategy for introducing the brand's generative AI products. "Even if you're a business decision-maker and you're consuming content … you're not building this wall between yourself as a business leader and yourself as a consumer -- you are one human being," Freeland says.
Integrating AI with cognitive bias psychology has the potential to create "unprecedented levels of customer engagement," writes Hawthorne CEO Jessica Hawthorne-Castro, who offers seven cognitive biases where AI can be used. Tools such as Google's DeepDream program can generate unique designs that appeal to consumers' feelings, and can tie into the Empathy Gap bias.
Cyberattacks can happen any time and leaders can be ready by knowing who to contact for both technical and governmental assistance, carefully communicating details with stakeholders and the public and having a prepared -- and practiced -- plan in place, writes Tim Maurer, a former Homeland Security cybersecurity advisor. "Regular tabletop exercises will help company leadership and staff to build the 'muscle memory' needed to respond effectively in a real crisis," Maurer writes.
Global economic growth next year will slow to 2.7%, from an already lackluster 3% this year, as high interest rates and China's flagging recovery weigh on activity, according to the Organization for Economic Cooperation and Development. "While high inflation continues to unwind, the world economy remains in a difficult place. We're confronting the double challenges of inflation and low growth," OECD Chief Economist Clare Lombardelli said.
Amplify your industry prowess at NAW's Executive Roundtables. Select from pressing topics, glean insights from experts, and participate in enriching cohort discussions. Transition from learning to implementing, fostering growth and collaboration. NAW - Where Innovation Meets Insight.
Agenda and registration information is available here.
Attending the Innovators Summit lets you stay updated with the latest industry developments and remain ahead of your competitors. By being aware of emerging trends and disruptive technologies, you can proactively adapt your business strategies, identify new revenue streams, and gain a competitive edge in the market. Learn more.