Retailers have prepared before peak season and have plenty of merchandise in stock<\/p>\n
INVENTORIES of US retailers are fully stocked amid concern that imports are expected to decline to the lowest levels since early last year, according to a forecast.<\/p>\n
The National Retail Federation and Hackett Associates expects a slowdown because retail sales for the first eight months of 2022 are 7.5% higher than 2021, and annual growth is expected to be between 6% and 8%.<\/p>\n
\u201cThe holiday season has already started for some shoppers, and thanks to preplanning, retailers have plenty of merchandise on hand to meet demand,\u201d said NRF vice-president Jonathan Gold. \u201cMany retailers brought in merchandise early this year to beat rising inflation and ongoing supply chain disruption issues.\u201d<\/p>\n
US container imports fell 11% in September compared with the same period a year earlier, according to a report by logistics consultant Descartes, though volumes were 9% higher than in September 2019.<\/p>\n
The NRF projects that October imports in major US ports will decline 9.4% year on year, while further declines of 4.9% and 6.1% are expected for November and December respectively. It forecasts second half of the year imports will drop 4% compared with last year.<\/p>\n
However, it still forecasts that 2022 volumes will eclipse 2021 by 0.7%, owing to a strong first half of the year, which saw volumes rise 5.5% year on year. The NRF\u2019s projection of 26m teu in 2022 is also 20% higher than 2019 volumes.<\/p>\n
August was a particularly strong month for ports on the east and US Gulf coasts, as New York and New Jersey, Houston and Savannah handled record import volumes, while Virginia had its second-strongest month for imports.<\/p>\n
While the port of Virginia expects volumes to remain consistent throughout the rest of the year, Georgia Port Authority executive director Griff Lynch said in September he expects volumes to soften. Port of Los Angeles executive director Gene Seroka echoed that view when he announced the port\u2019s August imports figures, which came in at an eight-year low.<\/p>\n
Data from ports and Lloyd\u2019s List Intelligence suggests that vessel backlogs are easing in most major ports on the east and US Gulf coasts. The number of boxships at anchorages is down to about 70, a decrease of more than 25% from early September.<\/p>\n
\u201cThe growth in U.S. import volume has run out of steam, especially for cargo from Asia,\u201d said Hackett Associates founder Ben Hackett. \u201cRecent cuts in carriers\u2019 shipping capacity reflect falling demand for merchandise from well-stocked retailers even as consumers continue to spend.\u201d<\/p>\n
The closure of factories during China\u2019s October Golden Week holiday coupled with the Chinese government\u2019s continuing zero-Covid policy \u201chave impacted production, reducing demand for shipping capacity from that side of the Pacific as well\u201d, he added.<\/p>\n
Source: Lloyds’ List<\/p>\n\n\n
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Retailers have prepared before peak season and have plenty of merchandise in stock INVENTORIES of US retailers are fully stocked amid concern that imports are expected to decline to the lowest levels since early last year, according to a forecast. The National Retail Federation and Hackett Associates expects a slowdown because retail sales for the …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[78],"tags":[89,84],"class_list":["post-1925","post","type-post","status-publish","format-standard","hentry","category-news","tag-logistics","tag-maritime"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/1925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/comments?post=1925"}],"version-history":[{"count":2,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/1925\/revisions"}],"predecessor-version":[{"id":2079,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/1925\/revisions\/2079"}],"wp:attachment":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/media?parent=1925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/categories?post=1925"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/tags?post=1925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}