US consumer sentiment improves as inflation expectations fall | Red Sea crisis eclipses COVID supply chain disruptions | Grainger subsidiary Zoro opens new HQ in Chicago
US consumer sentiment surged to its highest level since 2021 earlier this month, according to the University of Michigan's gauge, which showed broad optimism among demographics. Consumers' inflation expectations fell to 2.9% for the next year and 2.8% for the next 5-10 years, the lowest in four months. Rising consumer sentiment follows robust retail sales data and comes amid expectations of Federal Reserve rate cuts.
The ongoing Houthi rebel attacks on ships in the Red Sea are having a greater impact on supply chains, including decreased vessel capacity and extended transit times, than in the early days of the COVID pandemic and is only eclipsed by the cargo ship Ever Given lodged in the Suez Canal in 2021, according to Sea-Intelligence analysis. American Apparel and Footwear Association CEO Steve Lamar, says "delays and cost increases are mounting" and notes that while "companies are exploring alternative shipping options, adverse knock-on effects [are] continuing to disrupt logistics globally."
Grainger's ecommerce subsidiary Zoro opened its new headquarters in Chicago that focuses on connection and collaboration, with features a community-centric layout and gaming and wellness rooms. Zoro launched in 2011 and offers over 12 million business supplies, equipment and tools.
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Workplace gamification cultivates camaraderie and incentivizes improved performance, say 84% of warehouse workers polled by Wakefield Research for Lucas Systems. Gen Z is the most enthusiastic about workplace competitions, and 90% say they'd "definitely participate" if they earned a 10% cash bonus or less significant incentive.
Danish shipping giant A.P. Moeller-Maersk and Germany's Hapag-Lloyd have formed the Gemini Cooperation alliance with a fleet pool of roughly 290 vessels covering seven trade lanes and 6,000 port-to-port combinations that will launch in February 2025 after the 2M alliance ends. The shipping giants say the flexible and interconnected joint fleet network will enable them to make more punctual cargo deliveries and make significant progress toward their net-zero greenhouse gas emissions goals.
The Port of New Orleans' $1.8 billion Louisiana International Terminal project is getting a $73.77 million boost from the federal government. The funding comes through the Department of Transportation's MEGA Grant Program to back the initial phase of the project, which will eventually introduce a container terminal in Violet, La., capable of serving vessels of any size.
Business-to-business marketers could benefit from including realism in their messaging, acknowledging the difficulties B2B decision-makers face, instead of projecting a "toxic positivity" that glosses over issues, argues Don't Be Shy's Hannah O'Rourke. "There's already been a well-documented switch on traditionally 'more consumer' channels, towards acknowledging what goes on behind the scenes," O'Rourke writes, "It feels like B2B is due a similar reckoning."
Older leaders can gain new perspectives, keep their company relevant and improve succession planning by deliberately adding younger leaders to their teams, writes Bill Adams, founder and CEO of Leadership Circle. "In many instances, knowledge of the world trumps experience in the office, and the more perspectives included in a company's leadership, the more likely it is to offer a valuable conversation in its industry," Adams writes.
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