Global trade is constantly changing.
The ebb and flow of international business dramatically changes the shipping industry each time it takes a new turn. To help you make the most of these changes, we’ve outlined 5 stats about global logistics down below.
1. Containment Shipments have grown by 290% since the beginning of the century
Containment shipping has grown by a dramatic 8.5% since 2000. This growth continues to place demand on the infrastructure which has in turn demanded a more integrated supply chain. All of this means more growth for the containment shipping industry.
2. Distribution Centers have doubled in size
The largest distributers in the industry like Walmart and Amazon, have increased their distribution centers by leaps and bounds. In fact, the distribution center industry as a whole has doubled in size, with these major retailers looking for distribution centers around 1 million square feet as opposed to 500,000 just 10 years ago.
3. Mobile is King of the industry
According to 81% of all CEOs surveyed, mobile is king. Mobile search has now changed the way that customers do their shopping. The goal for businesses is to find a way to give customers what they want when they want it.
4. Alternative US Ports are increasing in use
There has been a serious decrease in cargo coming from Western ports over the past few quarters. Because of labor disputes and because of wider trends in the industry as a whole. Volumes dropped from 54 to 49% in Q1 alone. This has caused many to reconsider their import strategy.
5. China is becoming a major player
The trade surpluses of China and Europe match the US trade deficit. US retailers are facing more competition from the very place that has enabled them to maintain their dominance of the marketplace for so long. Thanks to low labor costs, these countries are dramatically changing the landscape.
When shipping across borders, it is important that importers and exporters adhere to strict compliance laws. At TCA we help to remove the confusion and complexity from Trade Compliance. Click here to learn more, or contact us today at 855-637-9566!