The National Retail Federation estimates that retail sales will grow between 11 and 14 percent to more than $4.4 trillion in 2021 as the nation recovers from COVID restrictions. The increase in volume of goods imported from Asia has placed stress on the supply chain with delays experienced at West-coast container ports. Nearly all members of the Federation have reported significant inconvenience and additional costs for transportation and warehousing.
The National Retail Federation addressed a letter to the White House on June 14th outlining the magnitude of the problem with almost two thirds of respondents confirming that they have had to add two to three weeks to supply chains. The Federation noted that retailers are the largest private-sector employers contributing $3.9 trillion to annual gross domestic product and supporting one in four U.S. jobs.
The Federation urged upgrades to ports and to the transport infrastructure as part of the Build Back Better Program.