What a Biden administration means for regulations on the freight industry
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Anthony Smith and Zach Strickland hit your headlines for Wednesday and discuss how the new presidential administration may enact more regulations for the freight industry.
Jobless claims jumped again this week up to just over 700,000 initial claims, lining up with the COVID-19 wave but also outpacing expectations for this time of year.
Amazon is a driver of the 75-day peak retail season, causing people to wonder if Black Friday is even relevant anymore since e-commerce reigns so supremely.
The boom in online sales may limit the in-store bedlam associated with Black Friday shopping, with a new report by Transfix showing 84% of consumers don’t plan on shopping in person this year. Instead, more people are opting for curbside pickup options, which may lead to less parking and delays on the roads and at designated pickup lanes.
While retail shoppers will decrease, the report estimated retail sales will increase with 60% of consumers planning on spending more on gifts this year and 54% planning to decrease spending on travel expenses.
The continued retail boom will put a stress on shipping, with 72% of brands not having confidence in their ability to meet consumer demands, but two-thirds of consumers expect their shipping to be perfectly fulfilled.
Strickland and Smith are joined by Will Sehestedt, FreightWaves’ vice president of association and university development, to talk about how policy is going to change with the transition to President Joe Biden’s administration.
Regulations are a key piece in keeping the logistics industry moving smoothly, but Strickland said governments do not necessarily have a clear understanding of how the industry operates in real time and that can lead to too much oversight.
“Your goal is to enforce the laws, keep people updated and give folks time to comply,” said Sehestedt, adding that administration and policy changes need to be clear and concise but also leave leeway for time to adapt.
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