Apparel Manufacturing Insights – 3 minute read
It’s been a looooong and stressful couple years for all of us. While shipping costs and long deliveries are expected to continue throughout 2022…let’s end 2021 with a look at the glass half full.
November is National Gratitude Month. Here are four positive economic indicators we’re grateful for:
1. US Retail Sales are Climbing
While inflation is at highest point since 2003, it’s a promising sign that higher prices aren’t keeping Americans from spending.
Fast Fact: Retail sales in Oct 2021 jumped for the third straight month.
2. Service-related Hospitality, Tourism/Travel and Entertainment are Slowly Getting Back to Normal
The US border opened back up to Canadians this month. Passenger data from the US and UK shows air travel is recovering from the pre-vaccine slump…despite warnings of a winter wave. We hope travel and experience spending will help prop up the economy whilst supply chain snarls persist.
Fast Fact: In September 2021, US Travel spending improved to only 9% below 2019 levels.
3. COVID Cases in North America are Declining.
This can change in a heartbeat but Canada’s October numbers were at about 2,400 cases per day (half the rate seen in mid-Sept). There is concern winter COVID #s could rise…but let’s stay positive.
Fast Fact: New cases of COVID-19 in the United States were just over 70,000 per day in October 2021, down from the end of Aug. Still above June’s numbers but this is a glass half full post.
4. In-Person Activities are Ramping Up Demand for Promotional Products.
All kinds of in-person events; client engagement events, concerts, conferences, golf tournaments, etc…are coming back! This means a need for shirts, caps and other branded merchandise.
Fast Fact: While some products are at risk of inventory shortages, the silver lining is that shortages result from higher demand!
OK…we may have rose coloured glasses on but hopefully you like seeing a few positive indicators for a change.
Moral of the year continues to be PLAN. PLAN. PLAN! and STAY POSITIVE. We will get through this!
Improve your manufacturing supply chain in 2022. We are here to help through the thick and thin.