Don’t be left out in the cold this holiday season
Rising prices and product shortages have some shopping early.
Following an incredible upending of our lives in 2020, as vaccination rates increased there was for some, a renewed hope and normalcy on the rise. But as time rolled on, and as demand for supplies of all kinds increased, it became evident the global supply chain for which we depend on, was showing signs of stress and shortages.¹
Fast forward into 2021 and the great resignation has begun. Interest rates and inflation are on the rise, supply shortages are evident and as we enter the most crucial selling season with holidays around the corner, unless you start shopping now, you may be left out in the cold. ¹
Most products these days come from Asia, and as of October of 2021, most of those container ships are currently in gridlock just outside of the two largest ports in America, Los Angeles and Long Beach, ³ hoping to unload everything from household items and clothing to raw materials and parts for automotive, airlines and appliances.² The shortage of truckers and dock workers to move the goods leave retailers with empty shelves and Americans paying more for less. ²
With the holiday shopping season on the horizon here is what you need to know. Expect delays, limited inventory and yes, you will pay more. If you have specific gift items, especially trendy items on your list, consider purchasing now ahead of Black Friday or Cyber Monday. By then it may be too late for some items.³ Early bird shopping has already begun and electronics are going quickly as semiconductor chip shortages are squeezing supply. And, remember, all of the major carriers such as the USPS, UPS and FedEx are not guaranteeing delivery times this year. ³
One last thought, if you have a hard time procuring your list of gifts, consider getting gift cards or make your own handmade items. You can also think about creating experiences together and gifting a trip, adventure or something no one has tried before. Use your imagination. Whatever you decide to do, the sooner the better so you are not left out in the cold. And, most of all, be sure to enjoy your biggest gift this upcoming holiday season, sharing time with your loved ones that matter most. ³
What’s on your list this year?