With over 306 million Americans affected by shutdown and stay-at-home orders, COVID-19 will have a permanent effect on retail and its buying behavior. With cities under lockdowns, and nonessential businesses being ordered to close, gatherings and outings in public places have been limited. We have seen a shift toward bulk-buying and online shopping. Consumers are changing what, when, and how they purchase.
The Shippers Group is growing and we need YOU! From Material Handlers to Customer Service to Corporate Support and everything in between, we have positions to fill across the country. As we continue to expand into new markets nationally, our need has increased for new talent. We are looking for positive and energetic team players who are passionate about our core values of Integrity, Innovation, Excellence and Safety.
What is for certain is there is abundant uncertainty regarding the economic forecast for 2020. The growth rate of real GDP is expected to be less than 2019. According to a recent article examining the U.S. economy's future trends, one-third of economists surveyed in Q3-2019 forecast recession in 2020 with another 30% predicting recession well into 2021. Based on this information, it is safe to say we are in the midst of a slow-down that is likely to continue for the next 12-24 months.
Supply Chains are changing rapidly. Manufacturers and retailers are trying to find ways to respond to faster shipping demands while keeping inventories low. To keep pace, shippers and 3PLs must be nimble and need good data to drive sound decision making that ensures services levels and control costs.
Blockchain is a movement that has applications to many different industries from cryptocurrencies to financial transactions to the supply chains. So what elements of blockchain are important and how does this emerging trend help the supply chains be more efficient?