NRF Projects Record Import Volume for Holiday Inventory Build

The National Retail Federation expects record imports through U.S. retail ports in August as consumer demand “continues to stretch supply chains and retailers shift from the back-to-school season to the peak shipping season for winter holiday merchandise,” reported the association Friday. U.S. ports handled 2.15 million 20-foot-long cargo containers in June, which was down 7.8% from May, but up 33.7% from a year earlier, when many stores were closed due to the pandemic, said NRF. It estimates July imports increased 15.7% from a year earlier to 2.22 million containers, and is forecasting 12.6% year-over-year growth in August volume to 2.37 million. That would top May’s 2.33 million “for the largest number of containers imported during a single month since NRF began tracking imports in 2002,” said the association. “Strong consumer demand has outpaced supply chain operations since late last year and could remain a challenge as the holidays approach,” said Jonathan Gold, vice president-supply chain and customs policy. “The continuing lack of labor, equipment and capacity has highlighted systemic issues and the need to create a truly 21st century supply chain to ensure resiliency against the next major disruption.”