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


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.”

Dickinson said larger retailers are suffering from higher costs, even though they were able to negotiate the best deals with shipping companies.

In Poundland, discounter owner Pepco’s boss told PA that shipping costs are expected to rise tenfold and supply chain problems will continue for 12 months.

Former CEO Andy Bond Asda “Christmas has a seasonal peak and we buy more ships than usual, which exacerbates the cost issue.

“You may have to pay 10 times more than you normally would. It’s not every day, but it’s affecting it.”

“I think the next 12 months will continue to be difficult, but I feel ready for the next good year,” he added.

Don’t panic. Empty toy shelves are not displayed. But as a parent, if you know that your child wants a special item, I recommend you buy early. There is no shortage of toys for Christmas. You may not have the specific toy you want.

At the entertainer, Grant said ports other than Felixstowe were feeling nervous.

Due to the accumulation of cargo, the shipping company Maersk has made a ship Suffolk Port while similar logjams are being seen elsewhere in the world, including the United States.

Thursday government Announced talks on plans to increase deliveries in the UK by temporarily changing the “cabotage” rules that govern how many times foreign carriers can travel in other countries.

Currently, EU carriers can only receive and unload goods in the UK twice in 7 days, but the proposal allows for an unlimited number of deliveries in 2 weeks.

If approved, the plan will take effect by the end of the year and will last for six months.

Thousands of shipping containers at Felixstowe Port in Suffolk (PA) / PA wire

The toy store boss said 170 stores were “literally out of stock” as a result of overdelivery over the past six weeks.

But he said that 50% of the chain’s inventory was sold between October and December, “even if there is enough inventory at the moment, there could be a gap in Christmas.” I warned you.

Added to the current issue is China, He said, some factories are left working only two days a week.

When asked what to say to consumers planning Christmas, Grant said: Empty toy shelves are not displayed.

“But if you know that your child wants a special item as a parent, it’s a good idea to buy it early.

“There is no shortage of toys for Christmas. You may not have the specific toys you want.”

on the other hand, Washington DCThe Prime Minister said the government is doing everything it can to help.

After meeting with the finance ministers of the G7 group of major global economies to discuss the issue, he said politicians agreed to work more closely to resolve the global crisis.

Talk to BBC, Snack said: “We are doing everything we can to mitigate some of these challenges.

“They are global in nature, so we can’t solve every problem, but we are confident that we will provide the right products for everyone.

“I’m sure there are many Christmas gifts that everyone can buy.”

The Treasury said at the meeting, Mr Snack said, “The importance of global cooperation to ensure that the supply chain is more resilient when the world exits the pandemic.”

After the meeting, Snack said: “Supply chain issues are felt globally. Financial leaders around the world need to work together to tackle common challenges.

“Today we have collectively agreed to work closely together over the next few months, and together we will build a strong and resilient recovery.”

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

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