The impact of the coronavirus on business in China, which currently is exacerbating the annual effects of the Lunar New Year, is hitting major retail container ports in the U.S., according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
After December strength made up for a shaky November, holiday retail sales for 2019 increased 4.1% versus the year-prior period to $730.2 billion, the National Retail Federation reported.
After a year of fluctuations driven by the uncertainty of the trade dispute with China, volume at the nation’s major retail container ports is expected to return to its usual seasonal patterns during the first few months of 2020, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
A record 189.6 million U.S. consumers shopped from Thanksgiving Day through Cyber Monday this year, an increase of 14% over last year’s 165.8 million, according to a survey from the National Retail Federation and Prosper Insights & Analytics.
More than half of consumers began shopping for the holiday by the first week of November and almost a quarter of purchases were made by then, according to an annual survey published by the National Retail Federation and Prosper Insights & Analytics.
Members of Generation Z influence a significant amount of household purchases and enjoy spending their own money, according to the latest issue of the Consumer View report released by the National Retail Federation.
The National Retail Federation said it expects holiday retail sales during November and December to increase between 3.8% and 4.2% over 2018 to a total of between $727.9 billion and $730.7 billion.
Imports at the nation’s major retail container ports remained strong in August as retailers and product suppliers looked to beat a new wave of tariffs that took effect September 1.
Retail sales were up 0.9% in July seasonally adjusted from June and up 5.6% unadjusted year-over-year, according to the National Retail Federation. The numbers exclude automobile dealers, gasoline stations and restaurants.
The National Retail Federation has reported that retail sales, excluding automobile dealers, gasoline stations and restaurants, rose 0.5% in May seasonally adjusted from April and 3.2% unadjusted year-over-year.