The construction equipment industry is increasingly moving online, thanks to advancements in technology and changing consumer habits. E-commerce and online marketplaces have made it easier for companies to buy and rent equipment quickly and conveniently. Here are some key strategies driving this trend. Online Marketplaces E-commerce sites like MachineryTrader, IronPlanet, and Equipment Trader offer vast selections of new and used construction equipment. These platforms allow buyers to compare prices and features from multiple sellers easily. Example: Equipment Trader’s easy-to-use website lets customers search for equipment based on different criteria like category and price, making online shopping more appealing than… Read More »
Reasons Behind the Skilled Labor Shortage Aging Workforce: Many skilled technicians and dealership staff are reaching retirement age, creating a significant gap in experienced labor. Educational Emphasis: There has been a shift away from vocational training in favor of academic pursuits, resulting in fewer young people entering trade professions like equipment technicians. Economic Cycles: The construction equipment industry experiences cyclicality, which affects workforce stability. During economic downturns, skilled workers may leave the industry or retire early, and when the economy rebounds, there is often a struggle to attract new talent. Perception and Recruitment: There is a persistent perception that technicians… Read More »
If you are a dealer merchant of any size accepting credit cards, you must be in compliance with PCI Security Council standards. PCI DSS version 4.0 was released on March 31, 2022; however, it has been in a transition period since the prior version v3.2.1 was retired on March 31, 2024. The new requirements of version 4.0 will become effective March 31, 2025. What does that mean for you? If you have already completed your Security Assessment Questionnaire (SAQ) you are compliant until your next SAQ is due. When your next SAQ is due, you will be required to be in compliance… Read More »
Recently, I’ve seen a lot of autonomous vehicles, electric tractors, ag robots, and AI enhanced equipment at World Ag Expo, FIRA USA and Agritechnica. Out of all the new tech equipment, I believe the first large-scale adoption will come in precision spraying. Herbicide-resistant weeds have proliferated over the past years. There are also numerous negative reports on the environmental and health impacts of using farm chemicals, including a recent report that came out showing Midwest states having the largest increased rate of cancer. Also, Bayer has fought over 110,000 lawsuits and still has more than 50,000 to go on the… Read More »
As the United States enters the year 2024, the economic landscape appears to be a dynamic mix of opportunities and challenges. The nation, having weathered the storm of the COVID-19 pandemic and faced various economic uncertainties, is poised for growth in the coming year. This article delves into key aspects of the United States economic outlook for 2024, exploring factors that will shape the nation’s economic trajectory. Growth Prospects: The U.S. economy is anticipated to continue its recovery and exhibit steady growth in 2024. The combination of robust consumer spending, increased business investment, and government initiatives is expected to drive… Read More »
As we turn the page from one season (football, harvest, road construction) to another (basketball/wrestling, tax, winter), the conversations at the coffee shop and around the break room table will change as well. A few things are always topics though like the weather. But I think what all of us want to know is, “Are the clouds on the horizon storm clouds and if so, what can we expect?” Similar to conversations about the weather many of us have been discussing what is influencing economic trends. Many dealers have weathered all kinds of storms, including economic ones, and you… Read More »
