Shipping crisis could impact your holiday shopping
(CNN) – It’s only August, but you may want to get an early start on holiday shopping and expect to cough up a little extra dough for gifts this year.
The shipping crisis is getting worse, and it could mean higher prices for shoppers and retailers.
The disruption to the global supply chain since the start of the pandemic has spurred a shortage of products, which means fewer choices and higher costs.
Most recently, a China terminal shut down because of a positive COVID-19 case, causing bottlenecks and delays for other shipping lines.
There’s also a truck driver shortage in the U.S. and U.K. As a result, air terminals are also receiving excessive freight.
U.S. airports, like Chicago, have delays up to two weeks to collect that cargo.
The CEO of Adidas is already saying the company won’t be able to meet the strong demand in the second half of this year.
Some companies are moving productions to other areas but are still seeing delays.
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