Barely one-third of Americans feel safe going to the grocery store, according to a Deloitte survey from the week of April 13, reflecting broader concerns about health and safety. Consumers may also start reducing spending on groceries and household goods, the survey says.
Watsco reported a 12% increase in e-commerce sales in the first quarter, compared with 8.3% overall growth. More than a third of Watsco's total sales are digital, according to the company.
Performance Food Group reported a $40.2 million loss in the fiscal third quarter on $7 billion in revenue. Sales were up 49% on the strength of acquisitions.
Distributors need to understand which products are declining in demand and whether recent sales are being driven by what's not in stock, among other tips offered by Jon Schreibfeder, president of Effective Inventory Management.
It's important to market aggressively during the coronavirus pandemic, including through relatively simple steps such as sending newsletters and asking for customer referrals, writes AlturaSolutions President Robert Kravitz. LinkedIn and Twitter are two platforms that can be especially effective for B2B marketers, he writes.
Addressing safety concerns, providing digital solutions and readjusting brand messaging are among the strategies marketers can take to reassure customers and prospects during the pandemic, Shelley Washburn writes. She recommends that business-to-business marketers create case studies to demonstrate how their brand is helping and use social media to build connections with audiences.
NAW will partner again with NAW Senior Economic Advisor Alan Beaulieu of ITR Economics to produce a second critical economic forecast webinar. Are we at or near the general economic bottom? What is happening in various wholesale distribution market segments? What are the stock market and interest rates doing now and in the near term? "Distribution Post COVID-19 Outlook" will be Thursday, May 28, 3 to 4:30 p.m. EDT. Seats are limited, so purchase yours here.
According to Mark Dancer, NAW Institute Fellow and author, "As distributors imagine business after the COVID-19 pandemic, there is a growing consensus that the crisis will lock in a trend toward customer preferences for virtual experiences. While a sustained shift in buying habits is very likely, that outcome does not reflect the full impact on the future of business." Read his post.Subscribe to the NAW Blog to receive a new post each week and stay up-to-date on industry insights.
