US productivity surged by an annualized rate of 2.3% during the second quarter, a significant increase from the revised 0.4% gain in the previous quarter, according to government data. The productivity boost, which outpaced economists' predictions, could help mitigate the need to raise prices amid rising labor costs.

Merchant wholesaler sales increased 0.4% in May to $666.7 billion from a year ago, and seasonally adjusted wholesale sales increased year-over-year 0.7% in the January through May period. Despite the positive broad data, business-to-business distributors and ecommerce sales are flat from a year earlier, with most large public business-to-business distributors experiencing slower sales as manufacturing productivity and economic activity decline.

Customers may have reached their limit on food price hikes, and companies are responding to pushback by offering more deals, slowing price hikes and introducing new products. Food manufacturers such as Kraft Heinz and Mondelez are rolling out discounts and smaller, less-expensive packs. Despite those efforts, there is significant consumer and political pressure to address high food costs and growing corporate profits.

The global economy experienced very little letup in the array of unpredictable forces affecting it in 2023, according to the annual State of Logistics report from Kearney, which reported total business logistics costs in the US dropping 11.2% from 2022 to $2.374 trillion. "Logistics executives and policymakers must simultaneously respond to upward and downward forces--to relatively high inflation and interest rates -- and also to the reality that demand has not yet fully recovered," said the report.

Indicators that the trucking recession may be ending include a 0.2% rise in the cost of moving goods by truck as reported by Bloomberg and a 9% increase in the Russell 3000 Trucking Index this month. Advance orders from retailers concerned about the potential of strikes and backlogs at ports, along with their efforts to cut down on excess inventory, are helping.

Security functions enhanced by proximity detection, speed controls, cameras and sensors allow smart lift trucks to greatly enhance efficiencies in crowded and active warehouses. Shannon Curtis, product manager at the Raymond Corp., explores the advantages offered by connected lift trucks, including better labor allocation, improved safety and their ability to generate data that can be used to guide further efficiencies and best practices.

Millennial and Generation Z business-to-business marketers are more likely than their older counterparts to report changing buyer behaviors, such as an increase in social media use for research and larger numbers in buying decision-making groups, per Anteriad and Ascend2. In addition, two-thirds of millennial and Gen Z B2B marketers are creating brand messaging with a focus on authenticity.

Sales managers should remember the skills that landed them a management job in the first place, advises Colleen Stanley, president of SalesLeadership. "By leveraging the strategies that made you a successful salesperson -- clarity on ideal clients, structured prospecting, effective qualification and diligent onboarding -- you can simplify your role as a sales manager," Stanley writes.

Talking about subjects such as politics, sexual orientation, religion or money can cause some employees to become uncomfortable, so leaders should create clear boundaries when such topics arise and steer conversations back to work-related topics, writes executive communication coach Andrea Wojnicki. If necessary, speak with those raising uncomfortable issues in private and let them know such subjects can be unsettling for other team members.

Gallup research found 24% of employees are recruited by another employer as companies turn to online networking sites and other digital tools such as Indeed and LinkedIn to attract talent. The research also found detailed job advertisements that align with skills have the biggest influence on people's decision to apply for a job.

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 here.

In today's competitive labor market, understanding compensation trends is essential. MDM is pleased to present a free webcast discussing detailed findings from NAW's 2024 compensation study. This essential tool offers unparalleled insights into current salary and benefit trends within the wholesale distribution industry. This session will be moderated by MDM Senior Editor Vesna Brajkovic and will feature expert panelists Greg Manns of Industry Insights and Mike Emerson from Indian River Consulting. Learn more here.

The NAW Company Roundtables are an exclusive community of thought leaders from Billion Dollar and Large Company distribution enterprises who congregate to network with non-competing peers in multiple lines of trade on key issues. Learn more about the many Roundtable event opportunities we offer, and how your leaders can get involved. Learn more.