Freightwaves Founder and CEO Craig Fuller warned Friday during “Mornings with Maria” that this year’s holiday shopping season will be a challenge as the global economy faces a supply chain crisis .
Fuller, whose company analyzes data on how goods and physical products move through the economy, recommended buyers buy these “hard to get” items as soon as possible.
“These delays are significant,” Fuller told FOX Business’s Maria Bartiromo. “I would recommend everyone to go ahead and buy these hard to find items now rather than wait for the holidays.”
Toys, clothing and electronics will be the hardest to find this year, according to Fuller.
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“The toys are likely to be the most difficult because they are made in Vietnam and China, which poses a substantial risk,” Fuller explained. “The risks are really on the commercial plane from the Pacific to the west coast ports. This is where the greatest supply risks lie.”
The pressure to provide more supply as demand increases could “add significantly” to already rising commodity prices, Fuller said.
“I think the biggest risk for businesses is just not having inventory,” Fuller explained, “so demand isn’t an issue right now. It’s just about having the inventory. to provide consumers with the items they need. “
The freight and shipping disruptions are likely the result of the COVID-19 pandemic, the executive director of the busiest container port complex in the United States told Bartiromo on Monday.
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He explained that there have been “delays in cargo from China”, pointing out that there are “major ports” in China and when a worker positive for COVID-19 is detected, the terminals are closed.
Because of this, Fuller predicts that the United States will not see a standardized supply chain until 2023.
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Talia Kaplan of FOX Business contributed to this report.