Once again this year, holiday shopping is bound to be a daunting task. Between supply issues and the existing labour shortage, consumers need to brace themselves for a lack in retail offering. Given the current context, what’s the best way to go about shopping for the holidays?
Vulnerable supply chains
Since the start of the pandemic, a multitude of supply issues have caused shortages in many sectors. Last year, the majority of these supply issues were a result of production delays in Chinese warehouses. This year, the issues are mainly port-related; ports around the world are increasingly congested due to labour shortages and confinement orders related to COVID-19.
Consumerism on the rise
At the same time, consumerism is on the rise, especially when it comes to sports equipment, kitchen accessories, décor items, electronic devices, etc. And according to a holiday shopping survey conducted by Deloitte Canada, this trend shows no signs of slowing down. In fact, global expenses are expected to go up 31% in 2021 versus 2020.
According to Francis Mailly, Director of Government Relations for the Quebec division of the Retail Council of Canada (RCC), it’s the exact kind of situation that could result in supply shortages leading up to the holidays.