Hardware Retailing The Industry's Source for Insights and Information
According to the most recent Global Port Tracker report, released by the National Retail Federation (NRF) and Hackett Associates, major retail container ports are expected to see near-record volume during June, hindering retailers’ attempts to meet still-high consumer demand.
Ports have not yet reported numbers for May, but in April, U.S. ports covered by Global Port Tracker handled 2.26 million twenty-foot equivalent units (TEU). That number is down 3.6% from March’s 2.34 million TEU, which was a record since the Global Port Tracker starting keep stats in 2002.
“We’re in for a busy summer at the ports,” says Jonathan Gold, NRF vice president for supply chain and customs policy. “Back-to-school supplies are already arriving, and holiday merchandise will be right behind them. And the big wild card is what will happen with West Coast labor negotiations with the current contract set to expire on July 1. We continue to encourage the parties to remain at the table until a deal is done, but some of the surge we’ve seen may be a safeguard against any problems that might arise.”
See how consumers are reacting to current inflation and supply chain issues here. Discover how retailers are addressing inventory management and keeping customers satisfied in light of ongoing supply chain issues here.
