US retailers rush holiday imports, fearing strikes and disruptions

9/8/2024 17:17

        Retailers are fueling a summer rush of imports to the United States this year as companies guard against a potential strike by port workers and ongoing shipping disruptions from attacks in the Red Sea ahead of a shortened holiday shopping season.
        
        Container imports and freight rates surged in July, signaling an earlier than usual peak season for an ocean shipping industry that handles about 80% of global trade.
        
        July is expected to be the peak for U.S. retailers, which account for about half of that trade, and August is expected to be almost as robust, analysts said.
        
        Companies that import toys, home goods and consumer electronics have brought forward holiday promotions to capture customers who are shopping earlier each season. "Retailers don't want to be caught back-footed," said Jonathan Gold, the National Retail Federation's (NRF) vice president for supply chain and customs policy.