Retail Imports Strong Despite Hanjin Bankruptcy
Source: Materials Handling & Logistics (MH&L)
Import cargo volume at the nation’s major retail container ports should be at near-peak levels this month even as retailers work to cope with the Hanjin Shipping bankruptcy, according to the monthly Global Port Tracker report from the National Retail Federation and Hackett Associates.
Hanjin should not significantly affect volume for the month since alternative arrangements to unload those containers or shift cargo elsewhere should be dealt with by the time the numbers are tallied,” says Jonathan Gold, NRF’s vice president for supply chain and customs policy. “But millions of dollars worth of merchandise is in limbo at the moment, and retailers are working hard to make sure it ends up on store shelves in time for the holidays.”
HALLOWEEN SPENDING TO REACH $8.4 BILLION, HIGHEST IN SURVEY HISTORY
Source: National Retail Federation, Ana Serafin Smith
Americans are looking forward to splurging on their favorite candy and costumes this Halloween season. According to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, total spending for Halloween is expected to reach $8.4 billion, an all-time high in the survey’s 11-year history.
U.S. consumers are expected to spend an average of $82.93, up from last year’s $74.34, with more than 171 million Americans planning to partake in Halloween festivities this year.
“After a long summer, families are excited to welcome the fall season celebrating Halloween,” NRF President and CEO Matthew Shay said. “Retailers are preparing for the day by offering a wide variety of options in costumes, decorations and candy.