Rockford Area May Feel The Pain Of Holiday Toy Shortage
Remember when we used to go for really long periods of time with out every saying the words "supply-chain?" Now you hear those words all the time, and even a third word has been added: issue. Holiday toys this year have a supply-chain issue.
The Toy Shortage Of 2021 Is Global, But Rockford Will Feel It Locally
I wouldn't normally have paid attention to this because my kids have become adults, so the seasonal discussion of what toys were going to populate their Christmas lists have faded into a pleasant memory. The "toys" they mention wanting now are more mature in nature, generally involving engines and/or jewelry. However, I work with a 42 year old toy-loving kid named Joe Dredge, and I know he'll be concerned.
Experts Say To Start Your Holiday Shopping ASAP, To Avoid Delays And High Shipping Costs
Willy Shih, Professor of Management Practice at Harvard Business School, told Newsweek that this is the problem:
Practically everything that moves by ocean containers cargo, which constitutes 95 percent of products that are globally traded, will be subject to some disruption this year. We will see shortages and higher freight costs, likely reflected in significant price inflation, across a wide range of sectors. Toys will be no exception.
There's also an ongoing semiconductor chip shortage, which could make it tougher to get your hands on a game console during the holiday season. NBC News reports that big-time players like Walmart and Home Depot are even trying to charter more ships to bring high-demand products, which may slow things down even more.