Truity Credit Union

Current Promotions and News Ads
Main Content Area

Truity Credit Union Blog

Recent Posts

Truity Credit Union Blog > November 2021 > What to Expect for Holiday Shopping in 2021

What to Expect for Holiday Shopping in 2021

  • 11/3/2021

The holidays are coming and it’s time to check off your gift list! Unfortunately, suppliers are cautioning shoppers to expect supply shortages, shipping delays and higher price tags. 

Here’s what to expect this holiday shopping season.

Supply shortages

Seen any empty store shelves recently?

Suppliers are struggling to stay ahead of demands while catching up from the manufacturing lag experienced during the lockdown. They’re also dealing with a labor shortage, which makes it challenging to meet manufacturing quotas. Finally, many manufacturers rely on other suppliers for the materials they need for developing their products — shipping delays and worldwide supply chain bottlenecks are slowing down their production processes even further.

Shipping delays

Even when manufacturers manage to keep the supply of their products ahead of the demand, there can be significant delays when the goods land in the U.S. For example, in mid-September, 70 cargo ships were waiting to dock in the LA and Long Beach ports, which handle about 40% of the country’s imported goods. The logjam is caused by a scarcity in available storage containers, as well as uneven deliveries of shipped goods as suppliers race to meet demand. The backup will likely continue to be a kink in the delivery chain deep into 2022.

Understaffed shops

Salespeople will likely be even more overworked than usual this time of year, due to massive staff shortages, resulting in extra worker responsibilities and overtime hours. The harried salespeople you encounter may be doing the jobs of several workers

Higher prices

Don’t count on finding that last-minute bargain gift this year. The prices you’ll find on toys, clothing, electronics, and other items will likely be higher than usual, thanks to inflation, the rising cost of fuel and supply that falls well below demand.

Shop early

Suppliers and retailers are urging consumers to start on their holiday shopping as soon as possible for the best selection at the best prices. If you’re the kind of shopper who doesn’t think about gift shopping until mid-December, this may be the year to rethink your approach. 

Start planning and shopping early this holiday season to avoid empty shelves and sky-high prices. Need help with funds this holiday season? We have options! Contact us today

 

Related Blog Posts

Truity Expands Mortgage Department

We're excited to announce a recent expansion and staff promotions in their mortgage department.

See Details

Routing Number: 303184652

 

How can we help you?