A sudden ‘slump in demand’ and deceleration owing to inflation, lower consumer confidence, business activity, and other geopolitical reasons has put the cargo markets under pressure. With a busy holiday season looming, amidst weakened demand and with the US government and private sector pulling out all the stops, will air cargo fortunes stay the course?
UPS chief executive Carol Tomé says that her company is building on the strong foundation of its “better not bigger” approach and moving into the next phase of its strategic framework, “better and bolder.”
Open Network for Digital Commerce (ONDC), the government’s long-awaited initiative, will soon commence its beta-testing phase in limited cities. The network aims to fill the gaps between sellers and consumers while trying to uplift small-scale enterprises along the way.