NRF: Retailer Container Traffic Increases expected Through Back-to-School Season
June 12, 2012,
This is according to the monthly Global Port Tracker report released last week by the National Retail Federation and Hackett Associates.
"Consumers are spending despite gas prices and other economic concerns, so retailers are stocking up to meet the demand," said Jonathan Gold, NRF vp for supply chain and customs policy. "These numbers show imports growing through the back-to-school season and even into beginning of the shipping cycle for the holiday season. That's a sign that retailers are expecting a good year."
Global Port Tracker covers the U.S. ports of Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston and Savannah on the East Coast, and Houston on the Gulf Coast.
These ports handled 1.18 million Twenty-foot Equivalent Units (TEUs) in March, the latest month for which after the-fact numbers are available. That was up 14.1% from February, traditionally the slowest month of the year, and 8.5% from March 2011.
One TEU is one 20-foot cargo container or its equivalent.
The first half of 2012 should total 7.3 million TEU, up 1.9% from the same period last year. The total for 2011 was 14.8 million TEU, up 0.4% from 2010's 14.75 million TEU.
NRF projects 2012 retail sales will grow 3.4% to $2.53 trillion.
"The economy is on the mend and all the leading economic indicators continue to point the way toward positive growth," noted Ben Hackett, founder of Hackett Associates. "2011 was a year of uncertainty that resulted in virtually no growth in import volume, but we are witnessing a resurgence of confidence and demand."