Retail executives are not counting on supply chain woes to ease anytime soon.
Fully 100% of surveyed senior retail executives agreed that supply chain disruptions will affect sales, prices and promotions during the upcoming holiday season, according to a study by First Insight and the Baker Retailing Center at the Wharton School of the University of Pennsylvania. And 98% agree that supply chain issues will continue impacting the retail sector through 2022 and beyond.
According to the study, the top three ways retailers are combatting supply chain issues is by improving their forecasting, finding new manufacturing or vendor partners and streamlining assortments. The increased costs of goods and shipping are being handled by retailers in various ways, with some trying to mitigate the supply chain costs as they head into the holidays. at Chain Store Age