The retail segment is working tirelessly with labor, transportation, shippers, ports, and government officials to overcome supply chain obstacles
Inflation, supply chain delays, and COVID-19, among others, are some of the issues that might come in the way of shoppers who are eagerly waiting for Black Friday. However, shoppers are expected to go all out and buy as much as they did the previous year. Matthew Shay, CEO and President of the National Retail Federation stated that consumers are ready to celebrate Thanksgiving. The retail segment is working tirelessly with labor, transportation, shippers, ports, and government officials to overcome supply chain obstacles. Consumers have easy access to the products they want to give, receive, and important.
The federation has predicted that the consumers will spend $997 this holiday season on various things like decorations, gifts, and non-gift items. Back in 2019, consumers used to spend an average of $1,048. Retailers are doing their best to keep up with the supply chain issues due to the after-effects of COVID. Manufacturing entities were severely hit both domestically and abroad. The situation now seems very spotty, and consumers will buy things that they can lay hands on. Some retailers are now renting extra warehouses to deal with the sudden increase in demands.