US distribution sales rebound after 2020 decline | Builders Firstsource buys software platform from Katerra | Port congestion expected to trigger fee increases, delays
Distribution sales in the US declined by nearly 5% in 2020 from the year before, but the first half of 2021 saw a 22.1% year-over-year increase, according to Commerce Department data. Distributors face ongoing business challenges, including the Delta variant, labor shortages and supply chain issues, that could reduce the rate of growth in the remainder of 2021.
The Port of Los Angeles is dealing with an imbalance of imports versus exports as it and other ports also face pandemic-related labor issues, increased consumer demand and retailers stockpiling for the winter holiday season. Container xChange CEO Christian Roeloffs predicts that port congestion will result in increased demurrage and detention fees, spot rates and surcharges, as well as intermodal delays.
Ninety percent of supply chain managers and leaders want to hire more workers to satisfy holiday demand and 47% are increasing wages or salaries to get and keep workers, according to a GlobalTranz and Edelman survey involving companies with at least 500 employees. "Issues around workforce availability and material shortages are likely to persist well into 2022 as companies make moves to address them in the coming months," GlobalTranz said.
Creating and implementing a solid business-to-business customer retention plan can not only help retain your current customers, but it can also give you a platform on which to scale your business going forward by creating customer loyalty, writes Matt Harper. That all starts with simple techniques such as putting the customer first, providing problem-solving resources and keeping your ear to the ground, Harper suggests.
Rethinking content strategy to make it personal is no longer an option but a necessity in today's business-to-business marketing world. Taking steps such as using the right brand templates for marketing and sales campaigns and establishing a standard for a multi-channel branding strategy are among the keys to success.
As a marketer, it's your job to get the attention of business-to-business buyers and help them avoid a "locked-in" mindset and, in turn, their vulnerability to bias and blind spots, writes Scott Gillum. Exploring the unknown, the underappreciated and the undervalued can lead to a path your customers may have otherwise missed.
Employers are taking a closer look at their employee benefit offerings this year as the workforce market tightens, according to Willis Towers Watson's 2021 Benefits Trends Survey. More than two-thirds of employers said they plan to make employee wellness a top priority over the next two years and they will redesign benefit offerings for a higher level of customization, all in an effort to retain and attract talent.
The nature of work is undergoing fundamental change as companies grapple with the long-lasting impact of the pandemic. To get a sense of what some companies are doing, here are interviews with 15 CEOs on the subject.
In this free NAW webinar on Sept. 23, at 2 p.m. Eastern, Ian Heller and Jonathan Bein of Distribution Strategy Group will identify best practices for developing, implementing, monetizing and managing services. Register now! Sponsored by Oracle Netsuite and Enable.
NAW's trusted partner CreditSafe is the global leader in business intelligence. As distributors look to the future, they need credible intelligence to grow profits, limit risk and expand where it makes sense. CreditSafe provides distributors with the data and decision-making tools they need to guard against financial loss and help them make more data-informed actions. Take advantage of their FREE "Stay Safe Program" analysis.
One life on this earth is all that we get, whether it is enough or not enough, and the obvious conclusion would seem to be that at the very least we are fools if we do not live it as fully and bravely and beautifully as we can.
Frederick Buechner, writer, poet, preacher, theologian
SmartBrief publishes more than 200 free industry newsletters - Browse our portfolio