The latest CNBC Supply Chain survey provides new data on how the global trade war has influenced this year’s holiday shopping season, and one more signal that consumer spending is holding up reasonably well amid concerns about affordability across the U.S. economy. But the survey data also suggests that the freight market remains in a vulnerable position headed into 2026, despite the Dow Jones Transportation Average
recently hitting a 52-week high.
Overall, close to half (44%) of respondents said more holiday items are leaving warehouses and distribution centers compared to last year. One-third of respondents said fewer items were leaving the warehouses. The majority of respondents who said they were moving more freight said the level of increase was 5-10% in volumes.
The volume of products leaving warehouses to stores or customers also revealed what product categories are emerging as winners and losers this holiday shopping season. Housewares, apparel, and promotion items top the list, with luxury (both aspirational and traditional) and furniture (both high-end and low-end), having a softer outlook.
The majority of respondents said inventory levels in warehouses are running at two to three months, with one-third of respondents saying they have several weeks of product being stored.
