NRF Sees Omicron as ‘Wild Card’ That Drives 2022 Import Growth
Imports through the major U.S. retail ports are expected to return to normal growth rates in 2022, but volumes will remain high after a year of “unprecedented increases,” reported the National Retail Federation Friday. U.S. ports handled 2.1 million 20-foot-long…
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cargo containers, 4.5% fewer than in October, but up 0.5% year over year, said the association. Supply chain challenges continue, even with the holiday selling season in rearview mirrors, said Jonathan Gold, NRF vice president-supply chain and customs policy. “The huge increases in imports we’ve seen have leveled out, but volume is still at high levels. We hope the system will find a way to catch up, but there is much that remains to be done to clear out port backlogs and increase capacity throughout the supply chain.” NRF said COVID-19's omicron variant will be the “wild card” that could drive more imports “if consumers stay home and spend their money on retail goods rather than going out,” said Gold.