NAW SmartBrief: U.S. consumer confidence falls in July
Thursday, July 29, 2010
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Posted by: Maggie Skarich
July 29, 2010
News for the wholesale distribution
industry
News
and Trends
Q2 sales jump for distributors, manufacturers Second-quarter
sales have improved from last year for many public distributors and
manufacturers. For distributors, MSC Industrial reported a 28.5% surge in sales
for the quarter, while Fastenal posted a 20% increase in sales. Meanwhile,
manufacturers are doing well, too. For example, Zep and Illinois Tool Works
posted sales increases of more than 20% for the second quarter. Modern Distribution Management/Economy blog (7/27)
U.S. consumer confidence falls in July U.S.
consumer confidence dropped in July to 50.4 points from 54.3 points in June,
according to the Conference Board. "Consumer confidence faded further in July as
consumers continue to grow increasingly more pessimistic about the short-term
outlook," said Lynn Franco, director of The Conference Board's consumer research
center. IndustryWeek/Agence France-Presse (7/27)
, Bloomberg (7/27)
Freight forecast is a mixed picture for U.S. industry The
changing dynamics of the U.S. economy present a mixed picture for the freight
industry. On the plus side, increasing freight volumes have exceeded some
carriers' capacity. On the other hand, FTR Associates is reducing its forecast
for U.S. gross domestic product by one percentage point because of "choppy"
growth. Fleet Owner (7/27)
Analysis: Along with global trade, imbalance returns Trade
deficits and surpluses are widening as international trade picks up, and
developing nations are once again building up foreign exchange reserves, as they
did before the financial crisis, according to The Economist. Many consider
reserve growth in emerging economies to be a significant problem. "They
represent barriers to global rebalancing and the potential for new financial
misadventures," The Economist notes. "But emerging markets will surely argue
that they remain unable to trust the developed world to provide liquidity in a
crisis." The Economist/Free Exchange blog (7/26)
10 ways to keep your staff engaged Leaders
should set clear goals and check for understanding in order to increase
productivity, morale and engagement, writes Wally Bock. He also recommends
having many short, informal supervisory conversations and highlighting the best
performance on your team. Three Star Leadership blog (7/26)
There's more to innovation than just intuition Intuitive
approaches to innovation are fine, but to get the most out of your innovation
programs in the long term, you need to systematize and manage them, argues Tim
Kastelle. Developing professional cadres of innovation managers might help
companies to spur their workers to new and more creative heights, he suggests.
Business-Strategy-Innovation.com (7/26)
Sales
Why you should consider raising prices You
can raise prices -- even in a downturn -- if you can convince customers that you
offer a superior service, experts say. Three researchers, who just wrote a paper
titled "Performance Pricing in Tough Times," say that most industries only have
a few firms that can truly compete on a low-cost model, so most companies should
compete on initiatives for which customers will willingly pay higher prices. HBS Working Knowledge (7/26)
Small
Business Manager
One of these people is not like the others After
returning from the EO/MIT Entrepreneurial Masters Program, Jennifer Walzer
implemented a number of initiatives to communicate her company's core values to
team members and evaluate how each worker jibed with those values. The company
lost two team members who simply didn't and brought on others who were more
closely aligned with the company's values, she writes. NYTimes.com/You're the Boss blog (7/26)
Survey: Hotel guest satisfaction climbs in 2010 Guests'
overall satisfaction with hotels has improved in the past year, with room rates,
the reservations process and room quality getting favorable reviews, according
to a hotel guest satisfaction survey from J.D. Power and Associates. The survey
also indicated 58% of hotel guests now book their room online, a small increase
over last year, and the top named must-have amenities include wireless Internet
access, complimentary breakfast, bedding and pillow choices, pillow-top
mattresses and free parking. CNN (7/27)
Restaurants offer variety in wine, one glass at a
time As
diners' taste in wine becomes more sophisticated, restaurants are expanding the
range of wines they offer by the glass and improving their methods of keeping
open bottles fresh. Some restaurants use a keg system to preserve flavor and to
avoid having to recycle bottles and corks. "The public has become more
interested in different wines and different producers of different varietals and
there are more varietals available than there have been in the past," said wine
club owner Richard Rosenberg. CNBC/The Associated Press (7/26)
NAW
Insider
Order Jim Pancero's
sales book: Sharpening Your Competitive Edge
"Sharpening Your Competitive Edge" shows you how to build a
stronger, strategic selling organization and lead your sales team to more
proactive selling efforts that can increase your competitive advantage, sales
and profitability. You'll answer the seven strategic questions that lead to
sales success, and you'll learn to identify and fix potential gaps in your
team's selling skills and processes.
Build, Fix, or
Terminate: How to maintain profitable supplier relations
"Build, Fix, or Terminate" is about distributor and
manufacturer working relationships and how, if properly managed, they can lead
to profit and business success. It recommends how to build and sustain
successes; fix emerging conflicts; and, if necessary, terminate unfortunate
working relationships that just won't function -- if they ever worked properly
in the past. It's a must-read for distributors and manufacturers.
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