Page 15 - STAT Trade Times Novemmber 2024 Magazine for Website

topped the list of priorities when choosing a and Asia, supporting the growing trade and
clothing retailer with 79 percent of respond- e-commerce demands of both markets."
ents highlighting both as key factors.
"90 percent of U.S. adults agree that even Lack of capacity, increasing
if they don't have a lot of money, they should demand
be able to buy clothes that make them feel There is definitely a lack of capacity here, says
good." Around 80 percent of those surveyed Podgorski. "Demand is far outpacing supply.
said they can find clothes that are unique at Looking back year-over-year, we estimate that
Shein and want to wear them repeatedly demand has grown 2x faster than supply has
Brussels Airport witnessed increased im- been able to grow. This has put huge pressure
ports from Asia throughout 2024, particularly on the rates as they continue to inch forward
in January and February when the year-on- to all-time highs. That said, air cargo fluctua-
year (YoY) growth was 112 and 101 percent, tions are the norm; looking at our Freightos
respectively, says Dimitri Bettoni, Head of Air Index, we can see that while air cargo rates
Cargo - Product & Network Development, in January 2024 were about 67 percent lower
Brussels Airport Company. "This was in line than January 2023, rates in October 2023 and
with the global trend of e-commerce growth. 2024 are about even. However, looking specifi-
"As e-commerce grows, we continuously cally at Asia-North America, rates are some
invest in this sector and keep on developing 25 percent higher this year, likely due to the
strong cargo partnerships, particularly with e-commerce boom."
Chinese carriers and airports. The airport has The air freight industry is affected by nu-
established various direct flights to major merous factors including geopolitics, trade
Chinese cities, facilitating faster and more reli- relations, supply chain disruptions, seasonal
able transport of e-commerce goods. Through consumption trends, different sector trends
these efforts, Brussels Airport positions itself as and changes in the supply of airfreight
a vital link in the cargo chain between Europe space, adds Owen of Cathay Cargo.

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