How the 2023 Holiday Season will Impact Supply Chains

The 2023 holiday season is underway, bringing about a flurry of challenging supply chains disruptions that could send this holiday shopping season off the rails once again. As inflation has surged across the US market over the last year, 75% of US consumers are looking to start their big holiday shopping around Thanksgiving where they can take advantage of discounts to counteract price increases. For retailers, this is a time of careful preparation, ensuring product availability and dealing with shipping delays and last mile delivery. Mounting worries have arisen regarding product availability this year, as close to 800 locations of big box retailers, including Target, Walmart, and Marshall’s, are expected to close across the US in 2023 due to a significant drop in sales, theft, and more. Europe is also following similar trends, with inflation resting at 5.6% as of September 2023 due to higher estimated energy costs. Meanwhile, blank sailings are expected to increase to 16% in Q4 of 2023, potentially impacting routes through China.