Indian River Consulting Group's Pandemic Revenue Index of 13 distributors declined by 0.4% the week of Oct. 26-30. The drop follows two consecutive weeks of increases.
Over 40,000 Class 8 trucks were ordered in North America in October, an increase of 83% from the same time last year and the highest level in two years. Don Ake, vice president of commercial vehicles at FTR, called September "the turning point" and added, "Fleets became much more confident about future freight demand and began placing large orders to replace older units and for expansion purposes, as capacity tightened."
Augmented reality improves e-commerce by helping companies create better products, streamline operations, and offer a more realistic online shopping experience to customers, Ernest Hamilton writes. He notes that AR is especially useful with so many people working from home, because it increases flexibility and helps employees manage their time efficiently.
How retailers should embrace the new normal The pandemic has reshaped consumer behaviors and the customer experience, most likely permanently. As we look to 2021, retailers need to focus on planning for the future with strategies that meet both the immediate and long-term needs of their customers and maximize the potential of all their sales channels. Watch SmartBrief and retail industry experts explore how the retail landscape has changed this year and how retailers can succeed in 2021.
Customer relationship management software can be used to ensure relevant messages are sent to specific customer segments, writes Dale Murray. CRM can also help sales and marketing teams manage data effectively, handle customer opt-outs efficiently and stay in compliance with data protection regulations, Murray writes.
6 Tips for Tackling Physical Inventory Counts Physical inventory counts are a necessary evil for just about any company that manufactures, distributes or sells products. They're critical to a business understanding and managing its inventory position and creating accurate financial statements. But that doesn't mean your physical counts need to be as time-consuming and painful as they are today. Get the infographic
We tend to listen most closely to people like us, which means we're probably missing out on smart perspectives unless we make a conscious effort to broaden our horizon, writes Wanda Wallace. "Ask questions, explain why you are asking, don't dismiss the ideas immediately, and don't let the team silence someone who communicates differently," she writes.
What does it mean to be a "digital distributor" and how should you change your strategy due to the explosive growth of marketplaces like Amazon Business, Google Shopping, Walmart.com and many others? In an upcoming November NAW research report and webinar, Ian Heller will evaluate trends, discuss alternatives and help you understand how to respond to the disruption in the distribution industry. Join us on Nov. 17 for the free webinar and sign up to be notified when this free research report is ready to download.
Wholesale distribution's most common credit card transaction type, card-not-present payments, face the largest fee increase in a decade. Stream the "Surcharge as a Strategy" webinar to see automated cash application technology protect margins from fees and migrate your customers' payments to lower cost transaction types including ACH and debit card payments.
Join your distributor colleagues for the NAW Digital Summit, Jan. 27-28, a welcoming forum to network, learn and share ideas. We'll have a condensed schedule packed with critical areas of focus that you must consider when bracing for an unpredictable future, including the Annual Economic Update and a Post-Election Analysis with an exploration of what the new landscape means for your business. The always-popular discussion roundtables will help you uncover new ideas about leading in a time of transition. Sign up and we'll notify you when registration is open.
