US consumer sentiment at highest level since May | Investing in workers gives companies a competitive edge | Retail sales inch upward in Aug., jump 2% YoY
Consumer sentiment in the US reached a four-month higher, according to the latest preliminary reading from the University of Michigan. Consumers were more optimistic than at any time since May, buoyed by improved buying conditions for long-lasting goods. One-year inflation expectations also improved, and consumers' outlook for personal finances and the economy increased.
Manufacturers and business leaders face ongoing challenges in recruiting and retaining younger warehouse workers despite advancements in automation and AI, and organizations need to move beyond surface-level strategies such as wage increases to focus on a deeper-level culture of engagement and respect. Key strategies for retention include maintaining a positive work environment, providing advanced tools and ensuring employees feel valued with flexible work arrangements, health and wellness initiatives and involving them in decision-making processes.
US retail sales, excluding gas and autos, increased 0.45% in August from the previous month and 2.11% from the same month last year, according to the CNBC/NRF Retail Monitor. "Even with slower employment growth, unemployment is near historical lows and ongoing job and wage gains coupled with lower inflation should keep consumers on solid footing heading into the holiday season," said NRF President and CEO Matthew Shay.
Key findings from the 33rd Annual Study of Logistics and Transportation Trends report include a significant drop in private fleet spending, increased intermodal transport spending and a shift towards flexibility in competitive strategies. Performance metrics showed declines in profitability and return on assets, while regulatory requirements have increased operational costs for the majority of respondents which underscores the importance of strategic investments in training, regulatory adaptation and technology to address these challenges.
Three consecutive years of drought conditions that have been part of a pattern that also included excess flooding have affected shipping on the Mississippi River, including reduced capacity requirements that resulted in higher prices for transporting grain and fuel. Producers of soy are considering ways to diversify their supply chain options by contracting with railroads and investing in new export terminals as the weather vacillations continue to pose a threat.
Business-to-business marketers share the digital trends and tools helping them engage more effectively with prospects, including video storytelling, influencer content and LinkedIn Live and its Creator Mode. "[W]ith more B2B decision-makers coming from younger generational cohorts, video is a powerful medium for humanizing B2B brands and building relatability," says Merkle's Pete Stein.
The Federal Reserve is preparing for the first interest-rate cut since 2020, with officials debating between 0.25 and 0.5 percentage point. Officials are divided, with some advocating a cautious approach to avoid market panic, while others think a larger cut is necessary to support the economy.
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The National Association of Wholesaler-Distributors (NAW) is one of America’s leading trade associations, representing the $8 trillion wholesale distribution industry. Our industry employs more than 6 million workers throughout the United States, accounting for approximately 1/3 of the U.S. GDP. 250,000 wholesale distribution companies operate across North America, including all 50 states. Learn more.
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