Talking about the holiday season during September is unthinkable to many, but this year consumers might have no choice. With increased supply chain disruptions, manufacturers are encouraging their customers to order all gifts as early as possible to ensure stock and arrival times. With sea trade at an all time high, global trade is only expected to continue to bottleneck as the year goes on and more people turn to online shipping for their holiday purchases.
According to Freightos, “Asia-US West Coast prices are at $18,425/FEU, a 50% gain since a month ago. This rate is 503% higher than the same time last year. Asia-US East Coast prices are at $19,943/FEU, a 30% increase in the last four weeks and 475% higher than rates for this week last year.”
Shipping delays aren’t the only change consumers can expect this year. The supply chain disruptions could cause a global rise in overall prices. What does this mean in summary? Start shopping now!