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Annual U.S. Retail Imports Projected to Hit Lowest Level in Four Years

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Retail imports are expected to hit their lowest levels since 2016, a trend likely due to retailers being careful not to import more than they can sell, suggests Jonathan Gold, VP for Supply Chain/Customs Policy at the National Retail Federation.

“Shelves will be stocked, but this is not the year to be left with warehouses full of unsold merchandise,” he said in a statement.

August is projected to be the busiest month of the July-October “peak” import seasons as retailers rush to bring in merchandise for the winter holidays. But this month’s expected import total of 1.81 million may be the lowest for the peak season since the 1.73 million TEU (Twenty-Foot-Equivalent Units) in 2016, and nearly 7.7 percent below Aug 2019’s 1.96 million TEU.

“This year, peak season seems to be thrown off by the coronavirus pandemic, along with just about everything else we consider normal,” Ben Hackett, the founder of Hackett Associates, said. “We’ve probably already had our busiest month. And with the pandemic taking a hit on the economy ever since then, peak season is likely to be a disappointment by comparison.”