NEW YORK, NY--(Marketwire - Nov 29, 2012) - If a cashmere sweater is on your holiday wish list, you may be disappointed when you unwrap your gifts. According to data released today from Panjiva, the B2B platform powering the business of global trade, cashmere shipments have reached their lowest holiday levels in years. This, coupled with a drop in fruitcake shipments, may point to a broader trend of more sensible gift giving this holiday season.
Less Fab: Cashmere Shipments Fall
Cashmere shipments, which include sweaters, scarves and gloves, totaled 2,413 in August through October 2012, the months when most holiday shipments arrive at U.S. ports in order to be at retailers in time for the holiday sales push. When compared to the same period last year, cashmere shipments fell almost 5 percent. This also marks a steady decline over time -- shipments of the luxury fiber has declined every year since 2007, when Panjiva first started tracking such information, by more than 30 percent.
More Drab: Fruitcake Regifted (Again)
Even the perennially mocked holiday fruitcake has not been spared this year. Shipments of the candied fruit dessert plummeted nearly 30 percent for the second year in a row. The only recent year in which there were fewer shipments was in 2008, when the U.S. was in the throes of the Great Recession. Though typically a decline of fruitcake shipments would be viewed as a positive, Panjiva warns it could mean more "recycled" fruitcakes from holidays past will be regifted in 2012.
This news comes on heels of Tuesday's report from Panjiva which found that toys shipments have also reached their lowest levels since 2007, further hinting at retailers' conservative approach to this year's holiday shopping season and the impact it may have on what consumers unwrap come December.
Panjiva powers the business of global trade. The company's B2B platform combines content and communication to fuel 21st century trade by enabling serious buyers and sellers to connect with one another quickly and easily. By combining diverse data sets that enable decision making with robust technology that makes the process of analyzing the data more efficient, Panjiva provides an unmatched level of insight on the companies, products and trends shaping global trade. With more than a million unique online visitors each month and 5,000 paying users across a wide variety of industries, Panjiva is a trusted resource to gain insight into, and make contact with, more than 6 million companies that make 35 million unique products. Panjiva was founded by CEO Josh Green and CTO James Psota. Panjiva has received equity investments from Battery Ventures and Harrison Metal. For additional information, visit: http://panjiva.com.