Retailers have tough peak season, NEWS by Hebei Longsheng metals and minerals co
| Retailers have tough peak season choices with COVID-19 recovery, trade war risks U.S. retail sales have started to pick up after COVID-19 lockdowns have been relaxed with total sales rising 2.9% year over year in June. Yet, that’s largely down to food, gas and autos with furniture and clothing down by 27.8% and 5.0% respectively. Importers of consumer goods are left with tough choices to make ahead of the peak shopping season. Total U.S. imports of consumer discretionary products fell by 12.9% year over year in June due to a slump in the autos sector. Home furnishings and apparel dropped by 6.1% and 29.9% respectively, the latter including the effect of bankruptcies. Electricals meanwhile did better with appliances up by 18.0% and consumer electronics increased by 3.2%. Aside from peak season demand uncertainties there is a risk that the U.S.-China trade war restarts, potentially triggering a round of stockpiling later in the year. By Hebei Longsheng Metals & Minerals Co,. Ltd. |
