You may not get what you want this holiday season if it has to be shipped from abroad. The Wall Street Journal reports that cargo routes are being canceled left and right because of the global economy.
The problem is that demand is down. Who wants to buy luxury items when gas is a luxury item and the world is teetering on the brink of war? Retailers say customers just aren’t buying. Nike reported that it was sitting on 65% more inventory this year than last year. FedEx is canceling flights and routes due to low volume. Ships can’t run empty.
According to the WSJ, “For the two weeks starting Oct. 3, a total of about 40 scheduled sailings to the U.S. West Coast from Asia and 21 sailings to the East Coast from Asia have been scrapped, according to the data companies as well as customer advisories viewed by The Wall Street Journal. Typically at this time of year, an average of two to four sailings a week are blanked, the industry’s term for canceled sailings.”