Easing of lockdowns resulted in a modest economic recovery into Q3, but global trade continued to contract on reduced export demand and uncertainty over a second wave of COVID-19. The US economy continues to suffer under political uncertainty and a large increase in COVID-19 cases, the US dollar is finally showing cracks.


Below are some highlights from CBX Software’s Q3 2020 Retail Sourcing Report.

– Oil and commodity prices recovered into Q3, with fluctuations expected in Q3/4.

– The USD weakened significantly against the Euro and Yuan as the US economy suffers through the ongoing pandemic.

– China’s economy made strong gains against Q2, but still faces a decline in export orders.

– Most Asian low-cost sourcing countries continued to suffer through rising COVID-19 cases, low export demand and unemployment.

– E-commerce was the only bright spot for retail, seeing exponential growth as consumers upped their online spend.

Until we see obvious signs of a COVID-19 retreat, the global economy will continue to suffer. With uncertain odds of a dramatic shift happening in Q3 or Q4, companies that focus on strengthening their supply chains and digital operations will be well positioned for 2021.


Download the Q3 2020 Retail Sourcing Report by filling this form:


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