Shanton Wilcox, US Manufacturing Lead at PA Consulting, discusses supply chain hurdles as we head into the holiday shopping season.
The article note that an Oracle study of 5,700 consumers found that one-fifth of respondents (20%) are going to buy extra gifts, just in case an order isn’t delivered by Christmas or is canceled altogether. Among millennials, that figure jumps to 44%.
More than half of shoppers (52%) have already started their holiday shopping or plan to start sooner over concerns about supply-chain problems and delivery delays, according to this latest holiday data. Consumers seem to be heeding the warnings of experts and others who have advised shoppers to snap up the items on their wish lists as soon as they can.
Moreover, there are worries that, even with the extreme measures being taken by major companies like Walmart Inc. and Target Corp., who have leased ships to get merchandise where it needs to be, there will still be shortages and hiccups.
Even the government has intervened, though there could still be major hiccups.
Shanton says: “The current supply-chain constraints are not something the federal government can step in and solve quickly.”
He adds that other hurdles that shoppers and retailers have to prepare for during the holiday shopping season, such as bad weather. With the supply chain already stretched thin, a blizzard that shuts down airports or slows trucks would represent a further challenge.
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