THE monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates reveals that imports at US largest retail container ports are expected to grow dramatically during the first half of 2021 as increased vaccination and continued in-store safety measures enable additional shopping options.
NRF vice president for supply chain and customs policy, Jonathan Gold, said: "NRF is forecasting what could turn out to be record retail sales growth in 2021, and retailers are importing huge amounts of merchandise to meet the demand.
"The supply chain slowdown we usually see after the holiday season never really happened this winter, and imports are already starting to grow again. Consumers haven't let the pandemic stop them from shopping, and retailers are making sure their customers can find what they want and find it safely."
Hackett Associates founder, Ben Hackett, said: "As COVID-19 ravaged the economy in 2020, it seemed as if any hope of recovery was distant. Then came the rollout of vaccines that appear to be highly effective and are bringing strong signs of a quick recovery. The successful distribution of vaccines will help ensure that the economic recovery will likely be strong and sustainable."
US ports covered by Global Port Tracker handled 2.06 million TEU in January, down 2.3 per cent from December as the busy holiday season came to an end, according to the latest month for which final numbers are available
But with a 13 per cent year-over-year increase, it was the busiest January since NRF began tracking imports in 2002 and the first time the month has ever topped the 2 million TEU mark.
While import numbers for both February and March are forecast to be significantly higher than normal, year-over-year comparisons are difficult because of the pandemic.
February is traditionally the slowest month of the year as Asian factories close for Chinese New Year, but last year most remained closed into March because of the coronavirus, reducing numbers even further. This year, however, some remained open during the holiday in order to fill a surge in orders, and ships arriving at US ports faced a backlog to unload.
February results aren't available yet, but the month was projected at 1.88 million TEU, up 24.4 per cent over last year, while March is forecast at 1.98 million TEU, up 44.1 per cent.
April is forecast at 1.9 million TEU, up 18.2 per cent year over year; May at 1.92 million TEU, up 25.2 per cent; June also at 1.92 million TEU, up 19.6 per cent, and July at 2.02 million TEU, up 5.3 per cent.
US retail imports to soar during first half of 2021: NRF