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US retail imports to be hit

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Printed Date: April 26 2024 at 1:33pm


Topic: US retail imports to be hit
Posted By: EdwinSm,
Subject: US retail imports to be hit
Date Posted: February 14 2020 at 2:47am
Coronavirus to Hit U.S. Retail Imports in February
https://gcaptain.com/coronavirus-to-hit-u-s-retail-imports-in-february/ - From a report by GCaptain (shipping news)

Originally posted by GCaptain GCaptain wrote:

Imports at the United States’ major retail container ports are expected to see a sharper-than-usual decline this month as the coronavirus causes factory shutdowns in China, according to a new report by the National Retail Federation and Hackett Associates.

“February is historically a slow month for imports because of Lunar New Year and the lull between retailers’ holiday season and summer, but this is an unusual situation,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Many Chinese factories have already stayed closed longer than usual, and we don’t know how soon they will reopen. U.S. retailers were already beginning to shift some sourcing to other countries because of the trade war, but if shutdowns continue, we could see an impact on supply chains.”

February is now forecast to be down 12.9 percent year-over-year at 1.41 million TEU, while March is expected to down 9.5 percent year-over-year at 1.46 million TEU. Before the coronavirus outbreak, the NRF had forecast February at 1.54 million TEU and March at 1.7 million TEU.


Going into March we should seem more difficulty in filling the shelves.


Replies:
Posted By: ME163
Date Posted: February 14 2020 at 4:51am
it is going to a disaster for Walmart and dollar stores...Hobby Lobby imports most of their stuff from China

Posted By: CharmlessMan
Date Posted: February 14 2020 at 5:04am
It's a good opportunity for us all to buy a bit less Chinese made tat! Much of it is single use plastics and only ends up in landfill anyway.

There will likely be price increases not just through scarcity but also because companies will have to manufacture components elsewhere at a higher cost.


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