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US retail cargo sees double-digit growth this year: NRF & Hackett – News


Imports at the largest retail container port in the United States continue to grow by double digits compared to last year, as strong consumer demand continues to gain momentum, according to reports from the National Retail Federation (NRF) and Hackett Associates. I will. The port processed 2.33 million 20-foot worth of units in May, an increase of 52.2 percent over the previous year.

The port has not yet reported June figures, but a Global Port Tracker report by the NRF and Hackett Associates predicted a month of 2.15 million TEU. This will increase by 33.8 percent from the same period last year. This will bring it to 1280 million TEU in the first half of 2021, an increase of 35.6% from the same period last year. A TEU is one 20-foot container or equivalent.

It is projected to be 2.21 million TEU in July, an increase of 15.1% over the previous year. August 2.3 million TEU, up 9.4%. September 2.16 million TEU, up 2.5%. October’s 2.13 million TEU fell 3.7%, the first year-over-year decline since July 2020. In November it was 2.06 million TEU, down 2%.

Global Port Tracker will not release its December forecast until next month, but 2021 is on track 16.7% above the total of 22 million TEUs for the full year of 2020. Despite the pandemic, cargo imports in 2020 increased by 1.9% compared to 2019, according to the report.

Jonathan Gold, Vice President of Supply Chain and Customs Policy at NRF, said: “But it continues to grow strongly, even as stores began to reopen last year. This is a sign of tremendous consumer demand. The challenge for retailers and supply chains is in the harbor. Keeping inventory on the shelves as congestion and other supply chain disruptions continue to affect the industry and the economy more extensively. “

“The operational constraints created by the COVID-19 pandemic and the surge in consumer demand are putting a serious strain on the logistics supply chain,” said Ben Hackett, founder of Hackett Associates. “Last year’s level of growth put pressure on importers, carriers and domestic carriers as well, unprecedented.”

Fiber2Fashion News Desk (KD)

Imports at the largest retail container port in the United States continue to grow by double digits compared to last year, as strong consumer demand continues to gain momentum, according to reports from the National Retail Federation (NRF) and Hackett Associates. I will. The port processed 2.33 million 20-foot worth of units in May, an increase of 52.2 percent over the previous year.

US retail cargo sees double-digit growth this year: NRF & Hackett

Source link US retail cargo sees double-digit growth this year: NRF & Hackett



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