News • 16.11.2022

US retailers expect a busy holiday season the next two months

Global Port Tracker report: With retailers well stocked, imports are slowing as holiday season ramps up

Retailers expect a busy holiday season the next two months but imports at the nation’s major container ports should continue to slow from records set earlier in the year, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.

A graphic showing monthly retail imports from 2021 to 2022...
Source: National Retail Federation / Hackett Associates

“Cargo levels that historically peak in the fall peaked in the spring this year as retailers concerned about port congestion, port and rail labor negotiations and other supply chain issues stocked up far in advance of the holidays,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “With a rail strike possible this month, there are still challenges in the supply chain, but the majority of holiday merchandise is already on hand and retailers are well prepared to meet demand.”

While consumers are still buying more, Hackett Associates Founder Ben Hackett said demand has fallen from peak consumption during the height of the pandemic.

“We expect the flattening of demand that began around the middle of this year to continue into the first half of 2023,” Hackett said. “This will depress the volume of imports, which has already declined in recent months. Carriers have begun to pull services and are looking at laying up ships.”

A graphic showing retail imports from 2004 to 2022
Source: National Retail Federation / Hackett Associates

U.S. ports covered by Global Port Tracker handled a record 2.4 million Twenty-Foot Equivalent Units – one 20-foot container or its equivalent – in May, but volume has seen a mostly steady decline since then.

Ports processed 2.03 million TEU in September, the latest month for which final numbers are available, down 10.2% from August and down 4.9% from September 2021.

Ports have not yet reported October’s numbers, but Global Port Tracker projected the month at 2.02 million TEU, down 8.5% year over year. November is forecast at 1.92 million TEU, down 9.2% year over year and the lowest number since 1.87 million TEU in February 2021, the last time the monthly total fell below 2 million TEU. December is expected to drop to 1.9 million TEU, down 9% year over year.

The first half of 2022 totaled 13.5 million TEU, a 5.5% increase year over year. The forecast for the remainder of the year would bring the second half to 12.3 million TEU, down 5.3% year over year. For the full year, 2022 is expected to total 25.86 million TEU, barely changed from last year’s annual record of 25.84 million TEU.

An outlook on the coming year

January 2023 is forecast at 1.98 million TEU, down 8.4% from January 2022. February is forecast at 1.71 million TEU, down 19.1% from unusually high numbers last year, when backed-up cargo kept congested U.S. ports busy despite the annual Lunar New Year shutdown of Asian factories. With most congestion issues continuing to ease, the month is expected to be the slowest since 1.61 million TEU in June 2020. March is forecast at 1.99 million TEU, which would be an improvement from February but down 15.2% year-over-year.

The cargo data comes as NRF forecasts that 2022 holiday retail sales will grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion.

The full report can be found here.

Source: National Retail Federation / Hackett Associates

related articles:

popular articles:

Thumbnail-Photo: Something is stirring on the shelf
25.05.2023   #e-commerce #brick and mortar retail

Something is stirring on the shelf

Attracting attention with animated product presentation

A few aisles, many haphazard shelves and even more competing products – how can brands stand out from the crowd? A Romanian start-up has also asked itself this question. The answer: Tokinomo, an interactive robot arm that brings products to ...

Thumbnail-Photo: LVMH and Epic Games announce strategic partnership...
22.06.2023   #e-commerce #digitization

LVMH and Epic Games announce strategic partnership

Companies aim to transform Maisons’ creative pipeline and customer experiences

At the Viva Technology show, LVMH announced a partnership with Epic Games, creator of Fortnite and Unreal Engine, to transform the Group’s creative pipeline and bring customers new types of immersive products discovery experiences. This ...

Thumbnail-Photo: Automation: Is this the future of shopping?
06.06.2023   #brick and mortar retail #food retail

Automation: Is this the future of shopping?

On the shortcomings and advantages of autonomous store concepts

Grocery shopping and self-service – the Blockstore Group combines the necessary with the pleasant and helps retailers implement autonomous and automated store concepts. In particular, the Finnish start-up helps to install a suitable ...

Thumbnail-Photo: Organized retail crime a growing threat for U.S. retailers...
19.04.2023   #retail #security

Organized retail crime a growing threat for U.S. retailers

Favorable balance between ease of theft, monetary value and ease of resale: Criminals largely target everyday consumer goods

Organized retail crime (ORC) is a perpetual and burgeoning problem for the U.S. retail industry, and evidence suggests it is growing in both scope and complexity, according to a new report released today by the National Retail Federation. The ...

Thumbnail-Photo: NIU opens world’s first unmanned store for passenger vehicles in Sweden...
24.05.2023   #brick and mortar retail #Tech in Retail

NIU opens world’s first unmanned store for passenger vehicles in Sweden

Long opening hours and low costs make the concept particularly customer-friendly and attractive for expensive city locations

For the first time, a store is opening that offers testing and ordering of passenger vehicles, without any kind of human assistance. NIU, leading provider of smart electric vehicles, together with security and technology experts Securified Access by ...

Thumbnail-Photo: MikMak rolls out e-commerce acceleration platform...
12.06.2023   #e-commerce #retail

MikMak rolls out e-commerce acceleration platform

Platform offers brands insights that drive business performance

MikMak, the leading e-commerce acceleration platform for multichannel brands, today announced the launch of MikMak 3.0. The enhanced platform enables commerce and conversion opportunities across every consumer touchpoint, along with more advanced ...

Thumbnail-Photo: Levis expands retail footprint in Asia
14.04.2023   #brick and mortar retail #customer experience

Levi's expands retail footprint in Asia

Clothing company announces opening of region's largest store in Bengaluru, India

Spread over a total retail space of 7521 square feet, the Levi's Brigade Road store features the brand's cutting-edge NextGen store format and retails some of its most beloved products. ...

Thumbnail-Photo: Perfect Corp. and Warner Bros. partner for interactive AR movie try-on...
13.06.2023   #Tech in Retail #app

Perfect Corp. and Warner Bros. partner for interactive AR movie try-on experience

YouCam Apps launches an exclusive collection of AR movie effects for Warner Bros. The Flash

Perfect Corp., the leading AI & AR beauty and fashion tech solutions provider and developer of the YouCam Suite of Apps, has launched an interactive augmented reality (AR) movie experience for Warner Bros. Pictures’ upcoming film The Flash. ...

Thumbnail-Photo: K5 Future Retail Conference - Top speakers on all aspects of e-commerce...
25.05.2023   #e-commerce #retail

K5 Future Retail Conference - Top speakers on all aspects of e-commerce

20.06.2023 - 21.06.2023 | Berlin

On June 20 and 21, 2023, the ESTREL Berlin will open its doors. Top speakers and experts from e-commerce will come together at the K5 FUTURE RETAIL CONFERENCE 2023. This year, K5 is taking place under very special conditions: the ongoing ...

Thumbnail-Photo: New GS1 Germany requirements in force for better data quality...
12.06.2023   #online trading #digitization

New GS1 Germany requirements in force for better data quality

Brands facing new challenges to providing product content to German retailers through the GDSN

GS1 Germany released two new requirements impacting brands selling food/beverage (and food-adjacent) products to the German market aiming at increasing product data quality passing through the Global Data Synchronization Network (GDSN). ...

Supplier

Extenda Retail Ab
Extenda Retail Ab
Gustav III:s Boulevard 50A
169 73 Solna