March Retail Imports Set Single-Month Record, NRF Says
U.S. retail ports handled 2.27 million 20-foot containers or their equivalents in March, up 21.2 percent from February, the National Retail Federation reported. It was the highest single-month volume since NRF began tracking imports in 2002, it said. “Despite the…
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continuing pandemic, most consumers are in good financial health and aren’t hesitating to spend,” said Jonathan Gold, NRF vice president-supply chain and customs policy. “More spending translates into more merchandise arriving at our ports as retailers continue to meet increasing demand. The cargo surge that began last fall doesn’t show any sign of stopping.” The March volume was up 64.9% from 2020, but the year-over-year growth “was artificially high because many Asian factories had shut down” in March 2020 due to the pandemic, and “most U.S. stores were being ordered to close,” NRF said.