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Strong Retail Sales Increase Dry Van Demand Well into 2022

Published: January 25, 2022 | Author: Rose Panik | Comments: No Comments

“Strong retail sales continue to fuel demand for dry van carriers. That trend looks set to continue well into 2022.

According to the National Retail Federation (NRF), retail sales during 2021’s November-December holiday season grew 14.1% year over year to $886.7 billion, exceeding forecasts and setting a new record in the process. That’s also more than double the retail sales volume of $416.4 billion way back in 2002 and 56% higher than just 10 years ago. The November-December number includes online and other non-store sales, which were up 11.3% y/y and exclude automobile dealers, gasoline stations and restaurants to focus on core retail.

From a commodity mix perspective, November-December holiday sales saw year-over-year gains across all categories, led by increases at clothing (up 33%), sporting goods (up 21%), general merchandise (up 15%), furniture (up 15%) and electronics (up 14%).

“Despite supply chain problems, rising inflation, labor shortages and the omicron variant, retailers delivered a positive holiday experience to pandemic-fatigued consumers and their families,” according to Matthew Shay, NRF President and CEO Matthew Shay. “Consumers were backed by strong wages and record savings and began their shopping earlier this year than ever before.””

***All information in this article is taken from DAT.com

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About the author...

Rose Panik

Rose is the Marketing and Communications Coordinator for Route Transportation and Logistics.

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