Transportation TIP List: Week of November 12th, 2017
This past Saturday was the national observance of Veterans Day, and we’d like to take a moment and say thank you to all of the men and women of the armed forces for their service to our country!
Our TIP List this week looks at ways to combat and prepare for the end-of-year holiday shipping challenges. From reefer capacity tightening in anticipation of Thanksgiving to the factors that are impacting this year’s holiday retail sales – check out the latest transportation news below!
- Positive and Negative Factors That Could Impact Holiday Retail Sales: The NRF predicts that holiday retail sales will be up 3.6%-4% over last year and pegs the forecasted total somewhere between $678 and $682 billion. This prediction is based on November/December retail sales projections excluding gasoline, automobiles and restaurants.
- Reefer Capacity Gets Tighter Ahead of Thanksgiving: Thanksgiving is right around the corner, so trucks are still in high demand to move refrigerated freight. And just like with dry van freight, reefer capacity tightened in the first week of November, meaning that shippers and brokers had a harder time finding trucks to move reefer loads.
- Alibaba Singles’ Day Sales Hit $8.6 Billion in First Hour: Alibaba recently kicked off its annual Singles’ Day shopping event, logging $8.6 billion in sales within the first hour. Shoppers from at least 192 countries and regions swarmed the e-commerce giant to scoop up discounted lobsters, iPhones, refrigerators and more.
- Contract Rates Going Up in 2018 as Carriers Gain Strength: A combination of historical trends and external events are impacting 2018 contract rate discussions that traditionally begin this time of year – and there are strong indications that average rates will increase.
- U.S. Capitol Christmas Tree Begins Cross-Nation Journey: Billings, Montana-based Whitewood Transport driver Larry Spiekermeier has started the nearly 3,000-mile journey from northwestern Montana to Washington, D.C., hauling the 79-foot U.S. Capitol Christmas Tree.
What is the biggest challenge your supply chain is facing this holiday season?