There has been an unprecedented growth surge in US retail imports. Container ports that began importing last summer will continue through the end of this summer to meet increasing consumer demands.
“We’ve never seen imports at this high a level for such an extended period of time. Records have been broken multiple times and near-record numbers are happening almost every month. Between federal stimulus checks and money saved by staying home for the better part of a year, consumers have money in their pockets and they’re spending it with retailers as fast as retailers can stock their shelves,” said Jonathan Gold, Vice President for Supply Chain and Customs Policy at the National Retail Federation (NRF).
There had been months of backups at the ports due to the pandemic, but recently, they are back in full swing. Now, more than ever before, It has been crucial for ports to catch up and anticipate a major rise for the next season.
Demand in retail will grow in the coming months as more consumers venture out of their homes to experience brick-and-mortar settings. US retail sales are expected to reach $4.3 trillion this year, which means that imports will likely need to meet this rise as well.