The shipping crisis is getting worse. Here's 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.
More than 18 months into the pandemic, the disruption to global supply chains is getting worse, spurring shortages of consumer products and making it more expensive for companies to ship goods where they’re needed.
Unresolved snags, and the emergence of new problems including the Delta variant, mean shoppers are likely to face higher prices and fewer choices this holiday season. Companies such as Adidas (ADDDF), Crocs (CROX) and Hasbro (HAS) are already warning of disruptions as they prepare for the crucial year-end period.
“The pressures on global supply chains have not eased, and we do not expect them to any time soon,” said Bob Biesterfeld, the CEO of C.H. Robinson, one of the world’s largest logistics firms.
Read the full article here: https://edition.cnn.com/2021/08/23/business/global-supply-chains-christmas-shipping/index.html