Navigating Supply Chain Issues this Holiday Season
It is not even November, but it might be time to start thinking about holiday shopping. The global supply chain has been hit hard by the pandemic and it is not going to get better anytime soon. You have probably noticed that even if shelves are full at your favorite stores, those shops are often out of products they used to always have in stock. This is going to continue to be an issue and will become more of an issue the closer we get to the holidays.
According to Gallup News, 60% of U.S. adults have been unable to get a product they wanted, and just as many have experienced significant delays in receiving a product. This has been a trend throughout the pandemic. It is likely to be particularly cumbersome for popular electronics devices. If you are thinking of buying a computer, gaming console or tablet for a loved one this season, it may be best to start shopping now.
The number of components inside any piece of modern electronics is why the supply chain is so critical to putting those products together. Tablet computers contain computer chips, screens, cases and other components often made at different factories, sometimes in different countries. One slowdown in any one of those components means it is going to end up on a shelf later than anticipated.
If the pandemic was not causing enough problems to the supply chain, China’s energy crisis is causing additional supply chain issues in everything from smartphones to toys to milk. According to Bloomberg, an extreme electricity shortage in China is delaying deliveries of toys, clothes and electronics.
The BankORION team recommends taking care of holiday shopping early, not just so you have gifts for loved ones, but for your own peace of mind this season, whether you are shopping at the mall or online. If you do plan on shopping online, please see our Secure Holiday Shopping from Home blog from last year for tips to shop safely online and keep your home network secure. At BankORION, we want to keep your data and finances safe and secure.
The BankORION Team wishes you safe retail and online shopping, whether you are restocking candy after Halloween or finding the perfect gifts for your friends and family.