US retail import down in summer says NRF report

The global port track report by the National Retail Federation (NRF) and Hackett Associates revealed that the import cargo volumes at US’s major retail container ports are expected to be mostly down through the summer but might pick up before the holiday season this winter.

“The unusual patterns seen last year in the aftermath of the West Coast ports slowdown are continuing to make valid year-over-year comparisons difficult. Retailers are balancing imports with existing inventories but consumers can expect to see plenty of merchandise on the shelves for both back-to-school and the holidays, “said Jonathan Gold, vice president, supply chain and customs policy, NRF.

“Inventories remain very high, pointing to an overstocked situation that will depress the volume of imports in the coming peak season. Unless inventories drop through further increased consumer spending, import growth will remain sparse, “said Ben Hackett, founder, Hackett Associates.

Ports covered by global port tracker handled 1.44 million Twenty-Foot Equivalent Units (TEU) in April. One TEU is one 20-foot-long cargo container. According to the report, May was estimated at 1.54 million TEU, down 4.2 per cent from the same month last year while June is forecast to also be 1.54 million TEU, down 1.9 per cent from last year.