Pittsburgh, PA. – August 23rd, 2021 – The shipping crisis is getting worse. Here is what that means for holiday shopping.
The vast network of ports, container vessels and trucking companies that moves goods around the world is badly tangled, and the cost of shipping is skyrocketing. That’s troubling news for retailers and holiday shoppers.
The partial closure of the world’s third busiest container port is disrupting other ports in China, stretching supply chains that were already suffering from recent problems at Yantian port, ongoing container shortages, coronavirus-related factory shutdowns in Vietnam and the lingering effects of the Suez Canal blockage in March.
That spells trouble for retailers and consumer goods companies trying to restock inventories heading into the crucial year-end holiday shopping season.
“Name almost anything and it seems like there’s a shortage of it somewhere,” Biesterfeld added. “Retailers are struggling to replenish inventory as fast as they’re selling, let alone prepare for holiday demand.”
As we’ve been forecasting for months, shoppers are going to see some bare shelves at the holidays
Read the full article here: https://www.cnn.com/2021/08/23/business/global-supply-chains-christmas-shipping/index.html