Associated Food Stores CEO praises role of technology | Ace Hardware posts revenue, income growth in Q3 | Thyssenkrupp reports full-year loss for fiscal 2020
Associated Food Stores has seen its e-commerce business grow during the pandemic and has benefited from automation in distribution and ordering, CEO Neal Berube says. Autonomous vehicles and pharmacies are two areas Berube is keeping an eye on.
Ace Hardware's third-quarter revenue increased by 30.7% over a year earlier, with website sales up 221% and same-store retail up 28.9% at dealers who shared data. Ace Hardware reported a 63.1% gain in year-over-year net income while opening more stores than it closed.
Transforming retail and CPG: what's next? As the world becomes increasingly digital, retail success will be shaped by the adoption of artificial intelligence and machine learning tools. Get ideas for business transformation and success in the "new" normal, including: personalized promotions and product recommendations, loyalty program management, auto-populated and personalized carts and chatbots, frictionless checkout, and more! Get the Google Cloud report
Trailer orders surged roughly 68% year-over-year in October, with ACT Research and FTR Transportation Intelligence estimating 54,200 and 56,500 net orders, respectively. FTR attributed the increase to the need to quickly move essential supplies through the supply chain.
About two-thirds of more than 2,500 professionals surveyed across North America, Europe and Asia say their cybersecurity practices aren't keeping up with current challenges, data protector Veritas reports. About the same share estimate it would take their companies five days or more to recover from a ransomware attack, provided the ransom wasn't paid immediately.
Marketers must invest in search engine optimization because the process helps brands collect and deliver a cohesive customer experience by gaining insight into changing customer behavior caused by the pandemic, writes Terakeet's Corey Mallonee. "Finding and emphasizing the things that make you different and making sure they're reflected in search will be crucial to building a loyal customer base as consumers become more intentional in their purchasing decisions," Mallonee writes.
The top five information sources used by business-to-business tech buyers are, respectively, product demos, websites, user reviews, sales representatives and free trials, according to a TrustRadius survey. B2B tech vendors say their top five tactics to attract buyers are marketing collateral, case studies, customer references, websites and product demonstrations.
Sometimes it seems easier and faster to do something yourself, but there are ways to change this mindset. "Delegating, when done well, not only reduces your own workload, it develops your employees, gives you and your team a bigger range of skills and impact, provides emergency back-up (since you're not the only one who knows how to do something), creates inclusive opportunities, empowers people, and retains talent," writes leadership consultant Deborah Grayson Riegel.
The idea of servant leadership is jargon that has lost its significance, and we should be talking about leaders in terms of "whether they are selfless or self-centered," writes Adam Bryant. "These selfless leaders recognize that their responsibility is to lift the performance of their team, which in turn will likely lead to more promotions if they are successful," he writes.
In his latest Chairman's Column titled, "Entering Our Next Chapter," NAW Board Chairman Doug York of Ewing Irrigation & Landscape Supply reflects on his year as Board Chairman, where he led through transitions in the industry, at NAW and in his own company. He views 2020 as the year to reset and usher in a new era, writing "we have opportunities to try new things, embrace new ideas and find innovation in charging forward." Read his column.
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.
With financial distress and identity theft on the rise, NAW and Trusted Partner, Gallagher, have partnered with LegalShield to offer wholesaler-distributors comprehensive identity theft and legal protection benefits to their employees. Get more information.