Companies could be stuck with unsold goods by Christmas as shoppers are buying less and retailers have overstocked, according to a report on shipping by supply chain software company Project44.
It predicted that retailers’ high stock levels after poor revenue results will “prompt mark-down sales”.
Supply chains were disrupted by the pandemic, leading to shortages of goods around the world. Transit times between China and Europe are now just under 40 days, compared with 45 in January and an average of 30 before Covid.
The report found that strikes at UK container ports have caused problems for businesses. An eight-day strike at Felixstowe in August is estimated to have affected £4.4 billion in trade. The time that containers waited before being loaded rose from an
