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May 24, 2021
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Top Story
Home Depot's pro sales increased by over 30% in the first quarter, "the fourth consecutive quarter of accelerating growth and the best quarterly growth rate on record," says President and Chief Operating Officer Ted Decker. Pro customers have been spending more thanks to the company's acquisition of HD Supply, Chairman and CEO Craig Menear says.
Full Story: TED Magazine (5/20) 
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Ace Hardware has marketed itself during the pandemic as the place to go for high-quality products and neighborly assistance, drawing "more women, more younger buyers and more new home owners," says Chief Marketing Officer Kim Lefko. Meanwhile, CEO John Venhuizen predicts that demand for home improvement products will continue after the pandemic.
Full Story: Forbes (tiered subscription model) (5/20),  Fox Business (5/20) 
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Operations and Technology
Technical and community colleges in multiple states are promoting the benefits of trucking careers and offering certification for commercial driver's licenses in an attempt to overcome a shortage of drivers.
Full Story: KFVS-TV (Cape Girardeau, Mo.) (5/17),  WTHI-TV (Terre Haute, Ind.) (5/21),  WALB-TV (Albany, Ga.) (5/18) 
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Warehouse growth this year is being driven by import distribution and traditional logistics, according to a report by real estate services firm JLL. Space will especially be at a premium in the New York-New Jersey area and Southern California, the report says.
Full Story: The Journal of Commerce (U.S.) (tiered subscription model) (5/18) 
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How to overcome 5 challenges retailers face today
Retailers are under increasing pressure to enhance operations, lower costs and improve the customer shopping experience. In this whitepaper, we explore microservices as a solution for some of retailers' most pressing problems by transforming data into actionable customer insights. Download now
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Sales and Marketing
Use storytelling to convey the value of your business-to-business company in an engaging, entertaining way that also boosts brand awareness, writes Marketing Labs CEO Matt Janaway, who offers four other B2B content tips. These include inviting guest contributors to write content to boost your brand's authority and diversifying content to include video, visuals and copy.
Full Story: MarketingProfs (free registration) (5/19) 
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The shift to remote sales during the pandemic will continue to change how outside salespeople work, with shorter meetings and fewer close relationships with buyers, writes Jack Keough. There eventually will be "fewer and better" outside salespeople, says sales trainer Dave Kahle.
Full Story: Industrial Distribution (5/20) 
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Transform your retail business with AI
Retail, due to its fast moving, trend powered, and fluid nature coupled to an extended logistics chain, relies heavily on making smart predictions. Thankfully, AI and machine learning advancements have presented an exciting range of opportunities that can help retailers make predictions in hopes of serving customers in better, more sustainable, and profitable ways. Get the report
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The Business Leader
Any leader can become self-serving if they find themselves constantly arguing for their point of view, envying others, regularly interrupting or boasting about their success, writes Lolly Daskal. "Few things can do more to undermine your influence, respect and trust," she writes.
Full Story: Lolly Daskal (5/19) 
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NAW Insider
In tough times, gaining new industry knowledge is helpful
(NAW)
Are you well-informed about different best practices and knowledge in our industry? If not, NAW's Top 10 E-book List can help get you up-to-speed quickly so you and your business can stay competitive in these challenging times.
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NAW Blog post: Assess, Compete, Transform: The Peak Performance Cycle
(NAW)
According to Brent Johnstone, "Most distributors suffer from breakdowns in what we call the 'peak performance cycle' for any high-functioning distributor: Assess, Compete, Transform, or 'ACT.' The critical aspect of this framework is that it preserves and provides laser focus for your most precious asset -- your time -- and helps prioritize where you spend it. Do you know best practices, and are you following them? As established in NAW's perennial bestseller, "Optimizing Distributor Profitability," there are 47 distribution best practices that drive performance across seven core functional disciplines." Read his post.
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Adding Value in a Post-Pandemic World: 7 free research reports and 7 free webinars
(NAW)
NAW and Distribution Strategy Group have teamed up on a seven-part free series called, "Adding Value in a Post-Pandemic World: New Leadership Strategies for Distributors." We focus on innovative ways for distributors to differentiate themselves from industry disruptors. Distributors will understand the challenges facing the industry, and will be armed with new modes of thinking and information to build robust strategies with staying power. Each part includes a free research report to download and a free webinar to watch live and on demand. Sponsored by Oracle Netsuite, Zoro, Conexiom and McFadyen Digital.
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It is more often more important to be ahead of the majority and this means being willing to cut the first furrow in the ground and stand alone for a while if necessary.
Patsy Mink,
politician, co-author of Title IX, first woman of color elected to US Congress
May is Asian American and Pacific Islander Heritage Month
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