The University of Michigan's gauge of US consumer sentiment fell for the fourth consecutive month, with a preliminary reading of 60.4 for November, the lowest since May and below last month's 63.8. "The consumer is feeling stretched between the twin pains of inflation and higher interest rates, making them less optimistic about their current and future economic prospects," says Damian McIntyre from investment manager Federated Hermes.

Drink distributing giant Southern Glazer's launched Ankaa Global Logistics, a subsidiary aimed at providing logistics services within the industry. Ankaa's services will include expanded storage capacity, competitive pricing, speed to market and proximity to customers, starting with two locations in Kentucky and California, with plans for a Florida location next year. Ankaa also plans to provide product launch opportunities, temperature-controlled storage and packaging solutions.

Food service distributor US Foods reported third-quarter sales rose 2.1% to $9.11 billion, with a 4% increase in case volume offsetting a slight dip in food prices. Profit beat expectations, coming in at $95 million, and the Illinois-based company boosted its full-year outlook.

During an economic downturn, or bear market, visibility into the supply chain process becomes even more important as companies respond to changes in consumer demand, writes Azad Ratzki, chief technology officer at BlueGrace Logistics. When the economy swings back upward toward a bull market, that's the time for supply chain professionals to make sure they're ready to scale their business to capitalize on renewed consumer interest, Ratzki notes.

A new regulatory landscape and the increasing complexity of supply chains make it more necessary than ever for food and beverage manufacturers to utilize the benefits of cloud-based technology as a digital compliance and supply management solution, write Nicole Keresztes James and Scott Arnald, of supply chain food safety at NSF. Cloud-based technology can help companies modernize their operations to handle large amounts of data, centralize supply chain processes on a single platform and protect companies from cyberattacks, James and Arnald write.

By 2034, annual truck freight tonnage in the US will increase from this year's 11.3 billion to 14.2 billion and boost revenues for trucking firms from $1.01 trillion to $1.51 trillion during the period, predicts the American Trucking Associations. Trucking represented 72.2% of freight in 2022, and it will hold its dominant market share over the decade, says ATA Chief Economist Bob Costello.

To better the customer service experience, Mathew Garner, co-founder of customer and employee experience specialist firm Ethos Farm, suggests company leaders take the data gathered by front-line employees about customers and create a "service vision" that serves as a mission for employees to execute. "There is a real opportunity for companies to recognize the importance of the employee experience and its profound impact on delivering exceptional customer experiences," Garner writes.

Business-to-business marketing leaders say business results, acquiring customers and proving return on investment are the top three responsibilities that have grown in importance in recent years, per a study by EssenceMediacom. In addition, the top macro shifts were cited, in order, as customercentricity, a changing buyer profile and new technologies.

The Federal Reserve is not confident interest rates are restrictive enough, says Chair Jerome Powell, who indicates the central bank is willing to tighten monetary policy further if necessary. "We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data and the risk of overtightening," Powell said during an International Monetary Fund conference.

The US economy will likely experience more slowing as the full effect of previous interest-rate increases is still filtering through, Federal Reserve Bank of Richmond President Thomas Barkin and Atlanta Fed President Raphael Bostic have said. "I believe there's a slowdown coming," Barkin says. "I believe we're going to need that slowdown, because I think that's what it's going to take to convince price-setters the days of pricing power are over."

Led by Ron Staffieri, the distinguished former CEO of Chattanooga Shooting Sports, Ron will share his tools, tactics, and leadership prowess with you so you can thrive in the fast-paced distribution landscape. Register today.

NAW is serving up a November treat with 20% off on all online bookstore publications, featuring a wide selection of business books for the wholesale-distribution industry. Check out "Innovate to Dominate" - a game-changer that's a must-read for anyone looking to thrive in this dynamic field. Use promo code 'Fall20" for your discount. Browse the full selection online at here.

Experience three days of excellent networking opportunities, cutting-edge content, and educational programming for leaders in the wholesale-distribution industry at NAW's Executive Summit Jan. 30 - Feb. 1. Hear from world-class speakers and explore issues critical to the industry. Be prepared for what's next and learn new strategies to get there first. View agenda and registration information here.