An increasing number of US consumers are spending more on goods that are not shipped in containers, such as software and accessories. According to a new analysis, this move away from container-shipped goods could pose several challenges to trades related to US imports.
Based on data from the US Bureau of Economic Analysis, a research conducted by Sea Intelligence says that consumption levels in the US have slowed, but they remain higher than pre-pandemic levels.
Recreational products and vehicles have exhibited the strongest spending growth in the US in 2023, according to the analysis. However, the data shows that computer software and accessories are the main drivers behind this increase.
“Hence, this strong boost to consumer spending in the overall goods sector does not benefit the container shipping lines, when it comes to filling excess vessel capacity,” says Sea Intelligence.
The report adds, “We essentially see stagnation in the spending pattern for these goods mainly moving in containers. Still at a level substantially higher than pre-pandemic, but not growing."
This shift in consumer spending comes at a time when US inventories are experiencing a slow destocking process. Sea Intelligence describes these trends as "dark clouds" that could threaten the container shipping industry in the long run.
