Santa will have to spend several dollars to get to the chimney this year.
A perfect storm of price increases shows no signs of easing as Americans begin to think about their Christmas season shopping.
The two main reasons are inflation, and price increases due to total disruption in the global supply chain.
Retailers have advised buyers to avoid empty shelves and even more prices down the street to start shopping on their holidays.
American families can expect to pay “much more” for gifts this holiday season.
Spending beyond the control of President Biden and the House Democrats, which has pushed inflation skyrocketing. https://t.co/0E9qKOt543
– House Republican (ouse HouseGOP) September 30, 2021
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Economic problems and inflation
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While delays continue at every level of the global supply chain, toy companies like Mattel warn that prices are rising.
Researchers at Goldman Sachs say, “Mattel’s rise in 2H21 will eliminate inflation from the supply chain challenge.”
Some companies are trying to figure out ways to reduce the burden – such as shipping their products faster so that companies can stockpile.
Holiday Shopping 2021: Why You Should Start Now https://t.co/MVMZXcqP2Q
– zbt CPA & Consulting (zbtcpa) September 24, 2021
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Five dollar tree?
While there may be a preview of the upcoming items, the discount store Dollar Tree has announced that the price of some of their items will rise above the one dollar price tag, even more than three or five dollars in some areas.
Here again, supply-chain problems have been achieved in their generally cheap way.
“We recognize the need to adapt to the current economic environment,” Dollar Tree CEO Michael Wittinsky told the Wall Street Journal.
See Economy: US goods deficit rose 0.9% to .6 87.6 billion in August. Not far from the all-time high. Companies import more products before the holiday shopping season. The U.S. deficit is likely to be quite high by the end of the year. 2021 saw another record deficit.
– MarketWatch Economics September 28, 2021
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American ports are an important part of shipping barriers. KTLA reports that an estimated 500,000 containers are waiting from cargo ships off the coast of California. No one seems to know how to solve the problem.
Those familiar with the backlog say more dockworkers are needed. This will speed up the waiting time for truck drivers to load and transfer to the trucker for delivery.
During a trip to Singapore in August, Vice President Kamala Harris noted the potential problems with the supply chain, saying, , May be many months.
Axios reports that price increases could go up to 20% this holiday season. While 20% may be trivial to someone, people with a fixed income will feel pinched when that income loses 20% of its value.
“Consumers will be willing to spend extra cash for some items when buying fewer items overall,” says Rob Garf, VP and GM at Salesforce.
Retailers are trying to stock up earlier than usual to make sure they have enough products on their shelves before the holiday shopping season begins in late November.# Consumer goods # CPG industry # Holiday shoppinghttps://t.co/7UTWZnTyKp
– Star Brokerage Sales and Marketing Agency (AR Star Brokerage) September 29, 2021
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