We offer a comprehensive and continuous dataset to give you unique insights across multiple industries.
Insight
Our integrated data insights can be viewed and continually assessed with our software platform, Russell ALPS.
Analysis
Our expert consultants can take a customised and commercialised approach to problem-solving to suit your interests or situation.
Action
Leading European retailers are placing their Christmas orders early this year, as the crisis in the Red Sea continues to disrupt global supply chains.
The spot rate for the immediate delivery of goods increased in recent weeks from $4,500 to $7,500 (£3,500 to £5,900) according to a BBC news report.
This increased rate will, according to Nick Glynn, Boss of BuyIt Direct speaking to the BBC, have a “massive impact on big bulky items, especially those that have low margins such as furniture, barbecues, and kitchen appliances”.
Typically, many retailers start importing goods for Black Friday in November and Christmas season between late summer to early autumn, the BBC reports.
Russell analysis of trade at Felixstowe, one of the UK’s largest ports between June and September 2023, reflects a trend of retailers ordering key items ahead of the festive period.
These items include Clothing ($514 million/£404 million), Pharmaceuticals ($480 million/£377 million), Household Appliances ($269 million/£211 million), Furniture ($223 million/£175 million), Preserved Fruit & Vegetables ($374 million/£293 million).
Further analysis shows that many of these items were imported by leading UK retailers such as Tesco, Sainsburys, Asda, Morrison, John Lewis and Marks and Spencer. These retailers imported a combined $1.7 billion/£1.34 billions of items in the period combined.
It will be interesting to note in the coming weeks and months ahead whether these same companies will be impacted by further disruptions down the line.
“To avoid headlines ‘Christmas is cancelled, there’s nothing in the shops’, people are now actually bringing forward their shipments,” she said. “So they’ll be here in good time allowing any eventualities that might happen while they are at sea”, said Sue Terpilowski of the Chartered Institute of Logistics and Transport, speaking to the BBC.
The future event horizon has an ominous tinge, with only 50% of all global container shipping completed on time because of the current disruption according to the BBC.
