US imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to a new report from the National Retail Federation (NRF), and reported by gCaptain.
If you sell to the US market, you need to stay abreast of issues to make sure your Christmas market spirits arrive before any changes take place.
US ports covered by the NRF’s Global Port Tracker, which is produced by Hackett Associates, handled 2.34 million TEU in March, the latest month for which final numbers are available. That was up 10.8 percent from February and up 3.2 percent year over year and also topped the previous record of 2.33 million TEU set in May 2021 for the number of containers imported in a single month since NRF began tracking imports in 2002.
“Retailers are importing record amounts of merchandise to meet consumer demand, but they also have an incentive to stock up before inflation can drive costs higher,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
“Consumer spending is growing faster than income growth, perhaps as shoppers buy ahead of expected rising prices,” Hackett Associates Founder Ben Hackett said. “Importers are doing much the same as they continue to replenish their inventories.”