Just when you thought things were slowly starting to get back to normal, you know that the remnants of the Covid-19 Global Pandemic would eventually mess up this Christmas too. And yes, even the toys on your kids Christmas list aren’t safe. Here’s everything we know and what you should know so that you can plan ahead accordingly.
What’s the Deal With the Toy Shortage?
According to recent studies and surveys that have been reported by The Today Show, more than 80% of retail executives are concerned about major inventory shortages due to the global supply chain crisis. Basically everything is backed up, waiting in a queue, and – not only – can significantly delay delivery of inventory to retailers, but can also increase prices of your favorite toys as well.
In fact, Newsweek recently released an interview that stated,
“Practically everything that moves by ocean containers cargo, which constitutes 95 percent of products that are globally traded, will be subject to some disruption this year.”
There aren’t enough workers, there are backed up shipments, and the demand for toys is more than ever before. Some of the biggest increases in the toy space this year are around STEM toys – educational in nature – where kids can play and learn from the comfort of their own home (or outside in the their own backyard).
So, What Should You Do About It?
From our own study we released, there’s a huge (6x more) increase in toy sales that start in August – specifically starting the 2nd week of August. And this is during “normal” times, meaning that August is when people have started their toy shopping for the holiday season.
Our recommendations for how to deal with this toy shortage crisis include:
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At this point, we’re all pretty used to disruptions this year when we’re trying to buy anything – like homes, cars, paint, food – you name it. But we’ve always thrived and survived and with a little planning ahead you’ll get through this too!