White Paper: Cautious Optimism – Industry Expectations for 2023 – FREIGHT WAVES

The transportation industry experienced a freight frenzy last year, following one of the most disruptive years in economic history. In 2021, the industry was hoping for a rebound as markets began to reopen with unprecedented goods demand and as COVID-19-related restrictions began to expire. Shippers, still reeling from stock outages in 2020, largely adopted a just-in-case ordering strategy, which kept carriers busy.

However, the transportation market has cooled down significantly this year, with both truckload demand and tender rejection rates on a steady decline. Whether due to inflation, rising interest rates, or other macroeconomic forces, stifled consumer spending has industry leaders preparing for further market sluggishness.

In 2021, Freight Waves, in cooperation with Echo Global Logistics, surveyed 130 logistics experts about the future of their industry. This data set was then used as part of a comparative analysis of 2023 data for the white paper report. Respondents were prompted to provide their predictions for 2023 with a particular focus on capacity and load volume, consumer spending, and the impact on the supply chain service industry.

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