Early signs from the shipping industry paint a picture of a cautious consumer for the upcoming peak shopping season. New data from the exclusive CNBC Supply Chain Survey reveals U.S. retailers are preparing for a “normal” holiday season, with a focus on stocking mid-range priced items.
Key Takeaways:
Value Takes Center Stage: Nearly 80% of current freight orders for peak season reflect a shift towards mid-range priced items, suggesting a consumer prioritizing value over luxury purchases.
Discount Savvy Shoppers: Survey participants anticipate continued consumer demand for discounts, with 69% expecting increased price shopping.
Retailer Cautiousness: General economic uncertainty has some retailers taking a wait-and-see approach, delaying final inventory decisions until economic conditions become clearer.
Normal Peak Season Expected: Despite retailer caution, major shipping companies like Maersk project a “normal” peak season, with potential variations depending on specific industries.
Insights from Industry Experts:
Noah Hoffman, Head of Retail Logistics, C.H. Robinson: “Consumers have become more value-driven…avoiding a larger bill…shopping around for the lowest price.”
Charles Van der Steene, President of Maersk North America: “We believe in normalized peak season…retailers more skewed than others in that latter half of the year.”
This shift in consumer behavior presents both challenges and opportunities for retailers. Adapting inventory strategies to cater to the value-conscious customer will be crucial. Additionally, offering targeted promotions and highlighting price competitiveness can attract cost-conscious shoppers.