The S&P Global's flash US Composite PMI Output Index held steady at 50.7 in November, pointing to broadly flat business activity as a slight rise in services offset a contraction in manufacturing. At the same time, the first signs of a slowdown in the labor market emerged as private sector employment dropped for the first time in 3 years and higher borrowing costs weighed on the economy.

NAW held the 2023 Innovators Summit in Austin, Texas, earlier this month, bringing together dozens of distributors and technology providers to highlight he intersection of distribution, innovation and technology. The second annual event featured a mix of education, networking and one-to-one meetings to examine ways to create competitive advantages via innovative or disruptive technology. Next year's Innovators Summit will be held Sept. 25-27 in Austin.

Retailers have pared back their inventories this holiday season after facing an overstock last year, hoping to strategically align with cautious shoppers and uneven retail sales. Target slashed its inventory 14% in its latest quarter compared to a year earlier, while Gap cut its inventory by 22% year-over-year in the third quarter and is focusing on responding to shopper demand in real time and avoiding markdowns.

Sourcing specialists are looking to artificial intelligence to find and access alternative suppliers to stabilize supply chains in a globalized economy. When integrated correctly, AI can also help procurement professionals see what else an existing supplier could provide by optimizing the supply database, according to Remko Van Hoek and Mary Lacity, professors at the University of Arkansas' Sam M. Walton College of Business.

Amazon delivered more packages end-to-end than FedEx and UPS and is on track to widen the gap this year, according to Wall Street Journal sources, while USPS still holds the lead for package volume. Amazon has been building out its logistics network, increasing its volume and share of deliveries, while competitors say they've been more focused on delivery profitability.

B2B tech can often be perceived as dull, Shannon Tucker writes, but it can be transformed through effective storytelling in marketing. B2B companies can break free from conventional marketing and engage audiences in a compelling and memorable way by focusing on human experiences, employing "show, don't tell" techniques to illustrate product impact and using diverse mediums like video testimonials, podcasts, and social media.

To effectively engage business-to-business buyers in an era saturated with AI-generated content, it is crucial to recognize the opportunity in personalized marketing, as 77% of B2B buyers want personalized content. Personalization can enhance B2B marketing efficiency through creating accurate buyer personas, segmenting email campaigns by industry and job role, and implementing account-based marketing for high-value customers.

Black Friday turned out to be a win for both in-store and online shopping, analysts say, with sales rising over a year ago. E-commerce sales swelled by 8.5%, according to Mastercard's SpendingPulse insights, while store traffic was up 4.6% from 2022, says Sensormatic Solutions.

A Gallup workplace report showed that despite pay increases, added time off and more control over their worksites, the proportion of US employees who report feeling stressed, angry and disengaged is on the rise. Researchers said potential sources of frustration include the economic effects of inflation, a cooling job market, and uncertainty about expectations for remote and hybrid work.

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.