After a series of occurrences, including trade disputes, the COVID-19 pandemic and political conflicts, consumers in the U.S. are looking at China-made products in a more negative light, according to Coresight Research.
The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
According to Coresight Research, almost half of consumers have a negative view of Made in China products.
Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
In the aftermath of consumer panic buying of items such as toilet paper and sanitizing supplies, a massive need for trucks to help restock stores has shrunk the capacity available for other products leading to an historically tight trucking market that has dropped 20% in volume in the past two weeks although high-demand goods are still soaking up specific transportation capacity, according to ABI Research.
In a move to address the coronavirus crisis, President Donald Trump has issued an executive order giving Treasury Secretary Steven Mnuchin the authority to defer certain tariff payments.
A swift restoration of lagging supply chains could loosen the flow of top-selling and new products in several housewares categories expected to become more important with more people confined to their homes during the health crisis.
Online sales have increased during the COVID-19 pandemic, but online retailers need to deal with customers who are demanding information about their orders at a time getting shipments to them may be problematic due to volume and labor issues related to the outbreak.
Concerns among U.S. housewares suppliers and retailers about supply chain disruption out of China after the initial coronavirus outbreak have been surpassed by more urgent concerns closer to home about public health and safety and economic wellbeing.
Estimates show that imports at major U.S. retail container ports dropped to their lowest level in five years in March, and imports are projected to remain significantly below normal levels through early summer as the coronavirus pandemic continues, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
The coronavirus outbreak is expected to have a longer and larger impact on imports at major U.S. retail container ports than previously believed as factory shutdowns and travel restrictions in China continue to affect production, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.