E-commerce revenues are forecast to shrink this year – for the first time ever. The key reasons being supply chain issues and inflation, according to Statista.
LOGISTICS
Global demand for logistics now exceeds capacity by 2%, down from 10% during the height of the pandemic, according to Sea-Intelligence, which said that it is only port congestion that is supporting high freight rates.
Intra-Asia freight services were down by 10.3% year-on-year as carriers shifted vessels to service more lucrative routes from Asia to North American and to Europe, according to Alphaliner.
In Q3 (to date) the Shanghai Containerized Freight Index (SCFI) has declined 8% quarter-on-quarter on average while the China Containerized Freight Index(CCFI) is up just 1% quarter-on-quarter.
Asia to North America rates continue their downtrend, along with volume and demand, according to Flexport.
Asia to North America volume is projected to decline through the end of the year due to over-ordering and low demand, said Flexport.
Strikes at the Port of Felixstowe could continue through the holiday season, say union bosses. The port handles an estimated 48% of the UK’s container volume.
Air cargo demand remains low but capacity is increasing. The upcoming peak season is unlikely to witness a volume surge as export orders remain low and inventories high, according to DHL Global Forwarding.
The Indian Subcontinent to North America route has capacity available across most lanes at standard (non-premium) rates, said Flexport.
SUSTAINABILITY
Cone Denim (USA) has expanded its partnership with BastCore, following Cone’s recently launched U.S. Hemp Collection. BastCore has created patent-pending technology and a proprietary process that produces clean hemp fiber. Read more
Crystal International Group (Hong Kong) is making Bangladesh greener by partnering with Earth Day in a project that aims to help communities in danger of environmental degradation. Read more
MATERIAL SOURCING
A Machine for Every Kind of Knit
Creativity plays a vital role in selling apparel, but achieving it oftentimes requires finding mills who have a range of machines that can produce unique fabrics. I.D. Knitting saw an opportunity to fill that demand and invested in about 47 machines that has enabled them to produce a vast range of cotton knits. Read more
PODCAST
A Master Salesman Shares His Secrets to Winning More Business
We have our habitual way of approaching customers and don’t often think about whether this approach is as effective as it could be.
Especially now that more sales meetings are taking place over Zoom, how can we be more effective – and use online meetings to our advantage?
In this podcast Navid Momeni, CEO of Sales Guru Global and bestselling author of “How to Become A Sales Master”, share his top techniques that drive more sales.
You’ll Learn:
- The best methods for prospecting in 2022 (Post Covid) to increase sales.
- Why proper handling of objections is such a big deal in sales.
- Things you should NEVER say during a qualification call.
MARKETS
Citigroup (USA) warned that UK inflation was ‘entering the stratosphere’ as it could hit a 50-year high of just over 18% in January, which might force the Bank of England to increase interest rates.
SUPPLY CHAIN STRATEGIES
Shifting Priorities Have Companies Taking a New Look at Supply Chains
Each new disruption challenges leadership to focus on resilience, rather than just price. But also to find ways to improve – before the next crisis hits. That’s caused some shifting to new suppliers, but in other cases strengthening relationships with existing ones. Read more
MATERIALS
Cotton prices remained high as forecasts of lower global supplies were offset by cooling demand.
Despite increases this week, crude oil is still down about 25% from the June high on growing fears that a global economic slowdown would dampen consumption.
Synthetic fiber prices inched down on lower oil prices and softening demand.
Yarn prices in China remained flat on weak export and domestic demand.
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