Industry News

At a time when retailers are gearing up for the holiday season, a port strike at the United States’ East and Gulf Coast ports interrupted cargo flow last week. After only three days, the strike came to an end, with likely only limited damage to America’s economy.

When you think about sustainability, the first things that probably come to mind are solar panels and recyclable containers. And while these work great to help to reduce your carbon footprint, many companies are beginning to think outside the box, finding innovative new ways to be more sustainable. 

Imports of U.S. container cargo in August jumped 12.9% from a year ago as a summer volume surge delayed cargo at major ports. A potential strike also threatens to disrupt supply chains at a scale not seen in years, with the power to delay shipments, drain inventory and spike costs — all at a time when consumers expect seamless service.

Transportation and fleet management solutions provider Ryder System, Inc. released its 10th annual e-commerce consumer study. The 2024 study, “The Influence of Omnichannel Excellence on Consumer Behavior,” reveals key factors influencing purchasing decisions, customer loyalty and retention as consumers reintegrate physical stores into their shopping journeys.

Early Halloween shopping is on the rise, with 47% of survey participants beginning their shopping before October, according to the National Retail Federation’s annual survey. Total Halloween spending is expected to reach $11.6 billion, after last year’s record-setting $12.2 billion.

Retail sales increased again in August as consumer demand and easing inflation overcame slower job growth. Total retail sales were up 0.45% seasonally adjusted month over month and up 2.11% unadjusted year over year in August.

TOTE's platform allows customers to select items on a brand's website and have them waiting in a fitting room to try on in-store. Online-only retailers can also leverage the platform to book virtual styling sessions or to send shoppers to their stockists’ locations.

Manufacturing overseas is becoming increasingly complicated. Between higher shipping costs, longer wait times and an increased risk of problems arising with the shipments, more companies are turning to manufacturing nearshoring. 

The cosmetics industry is undergoing a major shift that will impact manufacturers, retailers and consumers. Signed into law in December 2022, the Modernization of Cosmetics Regulation Act (MoCRA) aims to enhance consumer safety by introducing stricter regulations for the manufacturing, distribution and safety assessment of cosmetic products.

Payments and financial services technology provider Fiserv, Inc. has published the Fiserv Small Business Index™ for July 2024. Nationally, the seasonally adjusted index for July rose to 141. This jump in consumer spending followed a four-point decline in June.