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IHA’s blog features informative posts written to keep the housewares industry educated and informed about key strategic issues and IHA member services.

Are $20,000 Spot Rates a Thing of the Past?

The worsening state of the global economy is starting to negatively impact the record high ocean spot rates that have overwhelmed shippers the last two years. Everyone involved in international shipping, including the ocean carriers, knew that the record high spot rates were not sustainable over a long period of time. The softening demand by consumers has some carriers…

U.S. Retail Intelligence – July

July 30 – Shopify Reports $1.2B Net Loss, Lays Off 10% of its Workforce The company’s e-commerce gamble “didn’t pay off,” CEO Tobi Lütke said, and it expects operating losses through the rest of the year. From: Retail Dive July 29 – Amazon Posts Q2 Loss Against Earnings Expectations Amazon fell short of second-quarter expectations as it continued working to cut costs and…

U.S. Retail Intelligence – June

June 30 – Ace Hardware Shuts Down The Grommet, Lays Off 44 The hardware retailer’s co-op structure made it difficult to expand the platform, according to founder Jules Pieri, who announced the closure on LinkedIn. From: Retail Dive June 30 – Qurate’s Rawlinson Unveils ‘Project Athens’ Turnaround Plan Qurate Retail President and CEO David Rawlinson II shared a three-year…

Two Important Trade Developments

On June 16, President Joe Biden signed the Ocean Shipping Reform Act of 2022 (OSRA22, S. 3580) into law. This followed the House’s June 13 passage of the Senate version 369-42 in response to White House pressure for House Democrats to accept the Senate bill and quickly get a much-needed victory to the President’s desk. This rare and meaningful bipartisan achievement will…

Container Volume is Starting to Soften

The global economy is slowing down. Consumer confidence is also starting to wane. As a result, the containership industry is starting to see a softening in global container volume. U.S. importers are watching closely to see how this global softening impacts rates and capacity in the Asia-to-U.S. market. The initial impact is clear. Spot rates from Asia to the U.S. are on the…

Congestion Switching to East Coast Ports

Shippers are watching how the contract talks between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) will play out during the month of June. Key players on both sides have indicated they expect a smooth negotiation process even if a contract is not concluded by the June 30, 2022 expiration date. Shippers are hoping negotiations…

U.S. Retail Intelligence – May

May 31 – Bed Bath & Beyond Rolls Out Everhome Brand In another expansion of its “owned-brand” range, Bed Bath & Beyond is officially launching Everhome, which it characterizes as a casually sophisticated collection of furniture and furnishings, bedding, bath linens and accessories, decor, outdoor decor and tabletop, and storage and organization now available in-stores,…

USTR China Tariff Review Process Underway

As required by law, the U.S. Trade Representative (USTR) announced May 3 that it has initiated a four-year “review of necessity” process for tariffs on Chinese imports under Sec. 301 of the Trade Act of 1974. In a May 10 speech, President Joe Biden said combating inflation is his top domestic priority citing the pandemic, supply chain issues and war in Ukraine as the primary…