Rising prices, labor shortages, and depleted inventories continue to face manufacturers and retailers worldwide amid continuing supply chain constraints. How will these impacts weigh on the upcoming holiday season? Industry experts Andrew Wang and Garrett Boorojian say people should expect to pay more for holiday gifts and food this year than previously as well as anticipate extended shipping delays for e-commerce.
Key takeaways:
- Global supply chain bottlenecks are likely to make holiday shopping difficult and result in higher prices.
- Big companies have advantages of economies of scale for adapting to supply chain issues.
- Many retailers have reduced expenses during the pandemic, inventories are lean, and consumer demand is high setting up for a strong holiday season. However, products intended for the holidays that don't make it to store shelves in time will need to be discounted.
