Busy Summer Port Activity Foretells Possible Record Retail Imports, NRF Says
July and August could be two of the busiest months ever for imports at the nation’s major retail container ports, possibly setting a new record as merchants enter the back-to-school period and begin to stock up for the holiday season,…
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the National Retail Federation said July 10 (here). “We’re expecting retailers to import some of the largest volumes of merchandise ever,” Jonathan Gold, NRF vice president-supply chain and customs policy, said in a statement. “That’s a good indicator of what could be ahead for consumer demand and retail sales, and it’s a sign that retail is going strong despite what you might read in the headlines.” Ports included in NRF’s Global Port Tracker database handled 1.72 million 20-foot container equivalents (TEU) in May, up 7.3 percent over April and 6.2 percent over May 2016, NRF said. It estimates 1.66 million TEU were handled in June, up 5.3 percent from the same month a year earlier. The group forecasts 1.75 million TEU will be handled in August, which would be up 2.2 percent from last August and be the highest monthly volume recorded since NRF began tracking imports in 2000, it said.