This could be the most expensive Black Friday yet
- Global supply-chain issues are causing retailers to slash sales and deals.
- Traffic jams at ports and severe labor shortages are preventing retailers from getting products in time.
As a result of massive traffic jams at ports and labor shortages in the
Adobe, which tracks
Macy's executives said the chain has offered fewer discounts this year than in the past, which has helped improve profits, and discounts at other companies like Academy Sports + Outdoors and J. Jill have also dwindled in the face of short supply of products, according to CNN.
Supply-chain issues are also leading to an earlier start on Black Friday sales and a scaled-down version of the doorbuster sales consumers are used to.
Supply-chain experts are urging customers to get their holiday shopping done early this year to secure in-demand items and avoid the peak Christmas crowd. The logistics nightmare is also threatening a litany of other Christmas and Thanksgiving-related goods, from artificial Christmas trees to Thanksgiving turkeys.
One of the causes of the supply chain-related shortages are consumers, who fueled the crisis by spending skyrocketing amounts on online shopping during the pandemic.
"Supply chain is taking center stage on earnings calls, as the supply chain is a disaster," Scott Mushkin, an analyst at R5 Capital, told Bloomberg. "Honestly, there is a chance the system breaks down during the
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