Trucking Industry Gets Boost

A prolonged freight recession is nearing its end, driven by an earlier start to the peak shipping season for retailers. Traditionally beginning in July and August, the peak season for stocking up ahead of back-to-school and holiday shopping has started early this year, with retailers increasing inventory in June due to concerns about transit delays and potential port strikes.

Motive, which tracks trucking visits to North American distribution centers, reported a 30% year-over-year increase in trucking visits for the top five retailers in June. This surge in activity spans various sectors, including apparel, home improvement, groceries, and discount wholesalers. The uptick in shipping volume is helping the trucking industry recover from past downturns caused by pandemic-related inventory surpluses. Hamish Woodrow from Motive predicts that the freight recession will likely end by the third quarter of 2024, thanks to the extended peak shipping season.

Source – Supply Chain Brain