Peak retail import volumes have been reached, says NRF
National Retail Federation (NRF) says retail imports measured by container volumes will reach a new high in 2021, but are peaking and will stabilise.
The US’s National Retail Federation says US import volumes are expected to level off and decline after peaking in August.
Imports at the US’s largest retail container ports should hit another record year, the federation says, but the last month-over-month gain for 2021 will come as consumers prepare for the return-to-school season.
NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said: “Strong consumer demand has outpaced supply chain operations since late last year and could remain a challenge as the holidays approach.
“The continuing lack of labour, equipment, and capacity has highlighted systemic issues and the need to create a truly 21st century supply chain to ensure resiliency against the next major disruption.”
The NRF forecasts that 2021 is on track to total 25.9 million TEU for the year, which is up 17.5% over 2020, and a new annual record.
