As 2024 draws to a close, attention is shifting to the key industry events and challenges that will shape the start of 2025. With the holiday season wrapping up the year, the looming Chinese New Year and ongoing labor uncertainties in the U.S. are prompting companies to stay nimble in order to navigate potential disruptions in the year ahead.

Holiday Outlook: This holiday season is projected to see record-breaking spending. According to the National Retail Federation (NRF), consumers are expected to spend an average of $902 on gifts, food, decorations, and other holiday-related items—around $25 more per person compared to last year.

Chinese New Year: The Chinese New Year holiday will begin on Tuesday, January 28th (Chinese New Year’s Eve) and last until February 4th, 2025. In the week leading up to the holiday, many factories will start closing, as workers head home to celebrate. This annual disruption has significant impacts on the supply chain, and stakeholders should prepare accordingly. We advise shippers to secure their bookings as early as possible to avoid delays.

U.S. Labor Uncertainty: In early October 2024, after several days of striking, the International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) reached an agreement to move the expiration date of their master contract to January 15th, 2025. While a tentative agreement on wages was made, the contract terms are still subject to change if a final deal is not reached in mid-January. A key issue in negotiations remains the role of automation, with the ILA halting talks with USMX over this contentious subject.