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Industry News When You Need It
TGA
There’s only ONE WAY to get the scoop on the travel goods industry and that is to get it straight from the source. Be sure to stay abreast of the latest news from TGA via Travel Goods Magazine, this weekly Industry News Brief, and our Facebook, LinkedIn and Instagram channels.
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New Wave of Contracts Will Lock in Much Higher Shipping Rates
AMERICAN SHIPPER
“We’ve never seen this before. We’re going into a tender season that doesn’t look like anything else historically,” said Patrik Berglund, CEO of Xeneta, a company that tracks both long- and short-term ocean shipping rates. Berglund was referring to the exceptionally lopsided advantage shipping lines wield in 2022 negotiations for long-term contracts with cargo shippers — the contracts that determine what American importers will pay over the coming year, and increasingly, multiple years. READ MORE
FMC Considering PierPass Overcharge Investigation
AMERICAN SHIPPER
The nation’s top international ocean shipping regulator wants to investigate whether West Coast terminal operators are taking advantage of supply chain disruptions by gouging shippers on rates charged for off-peak terminal gates. Last week, Federal Maritime Commission Chairman Daniel Maffei said he will ask for a meeting of the full commission “as soon as practicable” to consider whether the agency should launch the probe of PierPass, a nonprofit company set up in 2005 by Los Angeles and Long Beach container terminal operators to ease port congestion. READ MORE
PierPass Shelves Permanent TMF Plan as Long Beach Calls for 24/7 Supply Chains
THE LOADSTAR
In an effort to alleviate logistical bottlenecks, the Californian port of Long Beach has called for stakeholders all along the supply chain to extend working hours. However, an attempt to make PierPass charges, supposed to spread truck traffic through the day, permanent has been shelved following intervention from the U.S. Federal Maritime Commission (FMC). READ MORE
Retail Sales Jumped in January, Another Sign of the Economy’s Resilience
THE NEW YORK TIMES
Prices were rising fast, products were in short supply and the Omicron variant put a chill on the country at the start of the year. Through it all, American consumers kept spending. Retail sales rose 3.8% in January, the Commerce Department reported on Wednesday, a faster than expected rebound from a sharp decline during the end of the holiday season. READ MORE
Leaders Don’t Have to Choose Between Compassion and Performance
HARVARD BUSINESS REVIEW
In our recent worldwide survey of 300 senior business leaders across industries ranging from hospitality to automotive to biotech, 61% reported that they’re struggling to balance employees’ need for support with their company’s drive for high performance. While most of us believe that real leadership entails both compassion and accountability, these results suggest that exhibiting this kind of leadership feels harder than ever. READ MORE
Engaged in 2022: The When, the Why, and the What of Social Media Marketing in 2022
STARTUP.INFO
As we are on the cusp of a new year, the latest social media statistics from last year have shown that the current market potentials are increasing. According to Statista, there are 3.78 billion social media users worldwide in 2021 and this number will increase to almost 4.41 billion in 2025. With estimates of continuous growth, this encouraging new data will help enhance your marketing strategy and the interactions of your business with the social media community. READ MORE
Fintech Retail Trends and Shifting Consumer Expectations
FINTECH
Fintech trends in retail are changing how consumers think about their relationships with retailers as they look for ways to save money and time while demanding more personalization and convenience. This article examines how financial services related to retail are evolving by adopting more innovative technology to adapt to the times and meet the demands of modern consumers. READ MORE
Travel Will Bounce Back This Year — Here’s How You Can Avoid the Escalating Costs
CNBC
If you’re planning to travel more in 2022, book early and expect higher costs. Travel will be in high demand this year, as the U.S.’s GDP contribution for global tourism revenue is expected to exceed pre-pandemic levels — 6% more than it was in 2019 — according to the World Travel & Tourism Council’s most recent projections. READ MORE
Alaska Airlines Unveils Subscription-based Flight Passes for West Coast Travel
THE POINTS GUY
Alaska Airlines is adding a new — and unique — way to book and pay for your travel. The Seattle-based carrier is unveiling a new “Flight Pass” subscription that will be available beginning Wednesday, February 16. Here are the details. READ MORE
Carry-on vs. Checked Bags: Which Is the Better Choice?
THE POINTS GUY
It’s often a flyer’s greatest dilemma: Do you opt for carry-on or checked bags? Some frequent travelers are staunch advocates of only traveling with a carry-on bag. Others don’t want the hassle and prefer to check a bag. Some flyers make the call on a flight-by-flight basis; a short business trip could require only a carry-on while a two-week Europe cruise might necessitate a checked bag. If you don’t fall firmly in the Team Carry-on or Team Checked Luggage camps, consider the following reasons why you might choose a carry-on versus a checked bag on your next flight. READ MORE
Buy Now, Pay Later Moves In-Store to Meet Growing Consumer Demand
PYMNTS.COM
What began online four or five years ago, depending who you ask, and is known today as the buy now, pay later (BNPL) phenomenon is now managing the rare feat of being in the moment while reflecting on the past — and planning for a potentially bright future. A certain part of that future won’t be online — where BNPL found an ideal growth medium over the past two-plus years, in particular — but rather inside stores, where consumers are showing a marked preference for BNPL and become frustrated when they don’t find it. READ MORE
TRENDING ARTICLES
Missed last week’s issue? See which articles your colleagues read most.
- TGA-Supported Ocean Shipping Reform Act (OSRA) Moves in Congress as FMC Considers Action (TGA)
- Your HUB Premium User Checklist Is Here (TGA)
- Klobuchar and Thune introduce Ocean Shipping Reform Act in the Senate (LOGISTICS MANAGEMENT)
- China Misses Trade Targets It Promised to Trump (CNN)
- Counting on ‘Endemic’: The Travel Industry Readies for a New Phase (THE NEW YORK TIMES)