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After a spending spree on goods that began during early COVID-19 lockdowns in 2020, U.S. consumer patterns are normalizing. U.S. ocean container import growth over the first nine months of this year, which is dominated by retailers, was within 2.5% of the same period in 2019, Descartes Systems Group said in a report on Tuesday.
Deloitte forecast holiday sales growth of 3.5% to 4.6% for the November to January period this year, the slowest pace since 2018. That balancing effort could help explain why September import volume was up 8% from 2019, the biggest divergence so far this year. Last month's volume was also up 0.3% from August, breaking a six-year trend of month-on-month declines"consistent with importers winding down shipment volumes for remainder of the year," Descartes said in its global shipping report.
Susquehanna analyst Bascome Majors analyzed about 20 years of data from Walmart, Target, Home Depot and Lowe's, and found the four highest-volume publicly traded importers of goods via ocean container ships in the U.S. were returning to"just-in-time" inventory strategies.
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