The Commerce Department reported that retail sales were up 1% in July from the prior month without adjusting for inflation, marking the largest increase since the beginning of 2023. The report showed gains for 10 of the 13 categories.

Plumbing and HVAC distributor Ferguson announced acquisitions of Buffalo, N.Y.-based Gerster Equipment and Santa Ana, Calif.-based United Water Works. Gerster Equipment is a distributor of Trane and Mitsubishi with a second location in Syracuse, N.Y., and United Water Works distributes water and sewer products in the greater Los Angeles area. The pair of deals brings Ferguson's 2024 fiscal year acquisitions to 10.

Alabama-based MRO parts distributor Motion Industries is acquiring Ontario-based LSI Supply, a distributor of bearing, seals, power transmission and other industrial supplies. LSI operates five locations in the region and Motion President James Howe said the deal, which is expected to close this month, would boost the firm's leadership position in eastern Canda. Terms of the deal were not disclosed.

The prices of goods imported to the US rose 0.1% in July after remaining unchanged in June, according to the US Bureau of Labor Statistics. The year-over-year increase in import prices came in at 1.6%, dropping to 1.2% if fuel is excluded. Export prices were up 0.7% during the month after falling 0.3% during June.

AI tools such as Allego, ChatGPT and Salesforce Einstein GPT streamline sales processes and provide valuable insights, but human differentiators such as empathy and active listening remain crucial for building strong client relationships. By using AI for routine tasks and focusing on human-centric skills like ethical persuasion and critical thinking, sales professionals can achieve greater efficiency and effectiveness for a more personalized and impactful sales approach, enhancing customer satisfaction and loyalty.

Choosing the most effective warehouse automation solution can be a challenge, as it is necessary to make modifications for each setting, writes Marc Terwilliger of Equipment Depot. Terwilliger recommends assessing a vendor's stability and customer service depth while also describing automated guided vehicles, robotics solutions, automated storage and retrieval systems and automated racking, conveyors and sortation systems, explaining features of each.

US retailers and importers are rushing to bring in goods ahead of a potential Oct. 1 strike at ports on the East Coast and Gulf of Mexico. Any strike action by dockworkers could result in significant delays and backlogs lasting weeks or even months.

Sales consultant Collen Francis advises that sales prospecting should focus on processes to increase understanding of customers and their businesses. "To create and maintain a high-growth, high-profit business, you must be more deliberate in your prospecting approach and how you frame your message," Francis writes.

A growing number of companies are deploying structured AI training programs to ensure their workforces are equipped with the skills they will need to reap its benefits in productivity and innovation. They are tackling the challenge by creating secure internal solutions and establishing clear policies to ensure responsible use of the technology.

Wall Street's Cboe Volatility Index, known as the VIX, a key measure of investor anxiety, has rapidly retreated from panic levels seen earlier this month. After spiking to 65 on Aug. 5 and closing at 38.57, the VIX has dropped to 16.31, its lowest level since the start of August. Such a quick decline suggests investors may be returning to strategies that rely on low stock volatility.

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