There’s nothing particularly seasonal about the peak shipping season this year, says The Wall Street Journal. Consumer-electronics retailer Best Buy added to the mounting signs of ample capacity and receding freight rates, with a note that transportation markets are “stabilizing and moderating” heading into the fall.
The comments from Best Buy CEO Corie Barry indicate the electronics giant is getting some relief in transportation costs as capacity in international and domestic networks becomes more readily available. This is backed up by data that show pricing pulling back sharply, from container shipping markets to the trucking sector.
Capacity-straining demand usually swings into high gear at this time of year, as peak season looms. This year, big retailers are undertaking a balancing act, seeking to clear out excess inventories while filling gaps on shelves for goods that remain in short supply.
Shipping costs remain elevated, in part because of high energy prices. But the mix of transport supply and demand is shifting, and Best Buy’s Barry says the retailer is “taking advantage of some rate opportunities” on the water.
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