Shoppers are stockpiling gifts now to avoid any holiday supply-chain problems
Supply chain challenges are a risk this holiday season, with shoppers and companies taking steps to avoid the worst problems
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.See: Shop early and expect to pay more: Supply-chain issues could be a stumbling block to upbeat holiday shopping forecasts
“Retailers must have clear visibility into their inventory, a realistic timeline for the fulfillment, and a plan to communicate clearly throughout the order and delivery processes,” said Mike Webster, senior vice president at Oracle Retail ORCL, +0.56%, in a statement.
President Joe Biden's UN speech 'probably infuriated' Putin | Fred Fleitz
Fred Fleitz and host Carl Higbie analyze the President's U.N. speech, breaking it down to the real messaging behind his flagrant condemnations of Russian Pre... Read more >>
Despite supply chain woes, these shoppers can get early access to hot holiday gifts“Gift-givers this year are at a new peak of anxiety,” said one retail expert. “This could be the supply chain that stole Christmas.” How much did Walmart pay to get their picture used here? That’s not the real meaning of Christmas. Maybe take a pause on the ridiculous Christmas spending? Smart families agree NOT to do gift exchanges. Saves a ton of money and hassle returning crap you don't need.
White House Announces New Steps To Tackle U.S. Supply Chain CrisisThe Biden administration announced a series of new steps that will be taken by companies and organizations in the private and public sectors to help address the continuing supply chain crisis in the U.S. Too little too late horrible And I am sure they are staffed to run 24/7 correct because there are no worker shortages.
Buttigieg says US supply chain issues will 'certainly' continue into 2022Transportation Secretary Pete Buttigieg predicted on Sunday that supply chain issues facing the US will continue into 2022, but stressed that Congress potentially passing President Joe Biden's infrastructure proposal is the best way to help alleviate those problems. Resign! Yeah cause he's been off for the last 2 months! We would have supply chain issues at the ports if things were made in the USA.
How school cafeterias are being hit hard by supply chain disruptionFrom distribution delays and shortages of fresh foods to cafeteria supplies like trays and tongs, districts across the U.S. have had to rework breakfast and lunch options for students. Hear me out: Maybe we should be producing our own stuff right here in the USA. My niece's school has plenty of food. I think you are lacking in ratings and have gotten desperate Maybe don’t let companies who operate private prisons supply public schools. Only in AmeriKKKa.
Home builders grow more confident in spite of continued supply-chain headachesHome price increases are creating affordability concerns across the industry. good
Tesla quarter may hinge on China factory, supply chain costsInvestors will be closely watching Tesla's quarterly results on Wednesday for indications of its performance in China, where the electric carmaker has posted robust sales in the face of negative publicity and a host of new domestic competitors.
An Oracle study of 5,700 consumers found that one-fifth of respondents (20%) are going to buy extra gifts, just in case an item doesn’t make it by Christmas or is canceled all together.Retailers are rolling out offers and incentives to encourage people to sign up for subscription services.The International Longshore and Warehouse Union (ILWU) members are willing to work extra shifts This will add needed capacity to put towards clearing existing backlogs.Washington (CNN) "Certainly a lot of the challenges that we've been experiencing this year will continue into next year.
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. 18, 2021, 9:03 PM UTC By Martha C. See: Shop early and expect to pay more: Supply-chain issues could be a stumbling block to upbeat holiday shopping forecasts “Retailers must have clear visibility into their inventory, a realistic timeline for the fulfillment, and a plan to communicate clearly throughout the order and delivery processes,” said Mike Webster, senior vice president at Oracle Retail ORCL, +0. FedEx said it will work to combine an increase in night time hours with changes to trucking and rail use to increase the volume of containers it will move from the ports.56%, in a statement. Walmart announced Monday that members of its Walmart+ subscription service will get a four-hour head start to start snapping up Black Friday deals, and Amazon is promoting its Prime Early Access feature, which lets Prime members buy Lightning Deals half an hour before everyone else gets a crack at them. “Through transparency and execution, retailers can earn trust with their customers and build the potential for future loyalty. There are $17 billion in the President's infrastructure plan for ports alone and we need to deal with these long-term issues that have made us vulnerable to these kinds of bottlenecks when there are demand fluctuations, shocks and disruptions like the ones that have been caused by the pandemic.
” 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. Best Buy is employing a similar tactic.A. Moreover, there are worries that even with the extreme measures being taken by major companies like Walmart Inc. WMT, +2. While the price tag includes tech support, installation and other perks, retail analysts said it’s likely that a large number of new members will be motivated by the prospect of being able to score hard-to-find items like Sony’s PS5 gaming console.03% and Target Corp. Not Grasping The Magnitude Chris Wolfe , CEO of logistics technology provider PowerFleet, said,"The fact that we are only just now talking about working nights and weekends at our ports tells me that companies and organizations weren’t grasping the magnitude of the situation, or worse, thought it would go away. TGT, -0." A survey conducted this month by the market research firm Piplsay found that about one-quarter of U.Read More"One thing that has not been talked about enough is (Moody's) finding about how the overall"Build Back Better" vision is designed to reduce inflationary pressures.
14%, who have leased ships to get merchandise where it needs to be, there will still be shortages and hiccups. Also: Walmart, Target, Home Depot and other large retailers are chartering ships to bypass supply chain problems. consumers have already started their holiday shopping. Tangible First Step Ron Leibman is the head of McCarter & English's transportation, logistics and supply chain management practice. Will the strategy save Christmas? Retailers have already begun to announce holiday promotion plans to motivate shoppers, with some like Target’s Deal Days taking place in October, and Kohl’s Corp. KSS, -0. Loyalty programs that charge membership or subscription fees and promise early access to hot gift items like gaming consoles would seem like win-wins, boosting the bottom lines of big brands while letting customers essentially pay to jump the queue and score Black Friday deals.58% trying to take some of the pressure off of the last-mile delivery part of the supply chain by offering perks for using in-store pickup. It also does not, and, to be fair, will need time to, address the systemic volumetric and infrastructure issues underlying the current crisis, some of which start overseas or with non-U. "The administration and the President are committed to bold climate action.
Convey by project44, a company that specializes in the logistics tied to the final leg of the delivery process, suggests that customers take advantage of in-store options, but warns that even a trip to the store won’t solve the problem of empty shelves. Essentially, the loyalty program is a sales-boosting model nearly as old as retail itself, said Margaret Kidd, the director of the supply chain and logistics technology program at the University of Houston. Even the government has intervened, though there could still be major hiccups. “The current supply chain constraints are not something the Federal government can step in and solve quickly,” said Shanton Wilcox, U. “Retailers do buy merchandise that they pull aside to provide access to their loyalty [program] customers. “It does though send a message that the Administration is listening to the industry and understands the problems, and that help may well be on the way in a more permanent fashion,” Leibman said.S. lead of manufacturing for PA Consulting. In a report in June, Forrester said perks and exclusive access can foster repeat-purchase loyalty better than just slates of discounts.
Don’t miss: 70% of Gen Z shoppers plan to do their holiday shopping in stores. The larger issues affecting the global supply chain will require bolder action and international coordination that will unfortunately take much more time. Here’s how the modern brick-and-mortar experience is changing. “Theoretically, if there are popular items that are in short supply this holiday, that gives that shopper who’s a member of that program a leg up,” said Rachel Dalton, the director of e-commerce and omnichannel insights at Kantar Consulting. Wilcox also highlights 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 could be an added challenge. “From an online perspective, they're tracking where you go and what you look at,” she said, which means more — and hopefully more accurate — ad targeting and product suggestions. “That said, it would be ideal to see a more holistic solution rather than addressing a specific bottleneck. The SPDR S&P Retail ETF XRT, -0.
14% has gained 44.” But the strategy isn’t without risk: Retail consultants say that if brands fail to deliver — or fail to manage consumer expectations during a season when supply chain bottlenecks have the potential to create a crisis for retailers — angry customers can migrate away with a click or a swipe.4% for the year to date while the S&P 500 index SPX, +0. Follow me on.68% is up 20..2% for the period. . and others who will be disappointed.