Business

Supply chain issues cause the majority of retailers to set price increases

NS

According to industry group bosses, the majority of retail bosses plan to raise the price of goods by the end of the year, with one in ten already doing so.

Helen Dickinson, UK Retail Consortium Sector representatives (BRCs) said a recent CEO poll found that rising supply chain costs would raise three-fifths of planned prices later this year.

Her comment comes when the boss of the Poundland owner told the PA news agency that he saw shipping costs jump tenfold as a result of rising global demand.

Gary Grant, founder of the toy store chain entertainer, said delays are affecting many British ports other than Felixstowe.

Details come despite the prime minister Rishi Sunak Despite supply chain issues, he expressed concern this year that “a significant amount of Christmas gifts will be available.”

However, Dickinson told PA News Agency: “Currently, supply chain issues are a priority for all companies.

“This is complicated because it looks a little different to everyone, but everyone is aware of the immediacy of this issue.

“They are thinking about Christmas. This is the most important period of the year for retailers. Non-food retailers in December consume an average of 70% higher than in other months.

“They are doing everything they can now to make it as smooth as possible.”

Helen Dickinson, CEO of the UK Retail Consortium, said store prices must rise (Jonathan Brady / Pennsylvania) / PA archive

She added that this proved to be costly.

“We surveyed CEOs and said three-fifths needed to raise prices by the end of the year. 10 percent said they already had.

“Sadly, it’s a reality to see companies raising all costs, energy, wages, and everything else at the same time.”

Supply chain issues cause the majority of retailers to set price increases

Source link Supply chain issues cause the majority of retailers to set price increases

Back to top button