Holiday shoppers are stocking up on gifts in response to shortages

According to a new survey by foreign media, as the global supply chain crisis may cause product shortages , some shoppers are doubling down on their efforts to stock up on holiday gifts to prevent their favorite items from being delivered in time before the holidays .

About 20% of shoppers said they planned to order more gifts , and among millennials, that number jumped to 44%, according to a survey released last month by data analytics firm Oracle.

"We are seeing consumers are eager to spend, eager to shop more to ease the anxiety caused by the current supply crisis," said Mike Webster, senior vice president and general manager of Oracle .

In order to keep goods on the shelves, American retailers have also ordered more supplies. According to foreign media reports, U.S. imports reached a record high last month, but these retail companies still face longer delivery times, forcing them to order more goods to ensure their inventory.

Even as retailers work to keep their merchandise in stock, some consumers are still stockpiling . Nate Schenk , head of retail for North America at management consulting firm BCG , said: " We have seen earlier stockpiling and shopping behavior by consumers , who have developed bulk buying behaviors during the pandemic ."

Abby Escobar, who runs a shopping deal group on Facebook , said she is nearing the end of Christmas shopping for her family and three children . Escobar said that in previous years, she would prepare about 10 small gifts for her children , but this year, she has prepared about 15 or 16 gifts for her children. The reason for this is to ensure that she has gifts on hand during the holiday season this year.

Meanwhile, retailers such as Walmart and Home Depot have chartered ships to import seasonal goods before the holidays and added more items to their original overseas orders. Retailers are also narrowing their product categories and encouraging shoppers to shop early.

Holiday Shopping Season

Christmas

Supply chain crisis