Retail Imports to Rise 5.1 Percent in September
September 9, 2013,
Import volume at the nation's major retail container ports should increase by 5.1 percent this month over last September, according to the latest Global Tracker Report issued by the National Retail Federation and Hackett Associates.
Jonathan Gold, NRF's vice president for supply chain and customs policy, said the import bump-up this month should occur because U.S. retailers are preparing for the holidays and making up for the low import volumes from earlier this year. "It's too early to predict holiday sales," Gold said, "but merchants are clearly stocking up."
In July, the most recent month with available import date, the ports handled 1.1 percent more merchandise than in July of last year. The Global Tracker Report said August's volume should increase 4.1 percent over last August, and October's volume should rise 9 percent.
Ben Hackett, founder of Hackett Associates, said the data is a sign that the U.S. economy "is on the road to sustained growth." Hackett cited better than expected growth in gross domestic product in the second quarter and an improving jobs picture--all of which point to higher consumer confidence and increased fourth-quarter sales for retailers.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.