The current supply chain crisis is one unseen since World War II when ‘there were submarines sinking commercial traders,’ an expert says, and it’s bringing disaster for shoppers as items are being resold for more than double their cost, and shipping delays mean more barren shelves.
Holiday shopping is expected to be especially fraught this year, as buyers contend with aggressive resellers and inflated prices – some jacking up toy prices by 400%. Basic Fun chief executive Jay Foreman – who has been working in the toy industry for more than 30 years – said the current situation is unlike anything he’s ever seen.
‘I would predict that there’s never been anything like this disruption in the global trade supply chain since World War Two,’ he told DailyMail.com. ‘And you know World War Two, with a global supply chain was upset because there were submarines sinking commercial traders. We had a war going on.’
The Biden administration has come under fire for its ‘too little, too late’ response to the backlog after it announced West Coast shipping ports would be running around the clock to ease bottlenecks in the system. Toy flippers are already charging hefty premiums for sold-out products and computer chip shortages could leave some sought-after items back-ordered for several months,
meaning kids who’ve requested them for Christmas could be left sorely disappointed on December 25 – just over two months away. American Girl’s sold-out blonde winter princess doll, which retailed for $250, is now going for up to $999 on platforms such as Mercari and eBay.
The cat-themed Gabby’s Dollhouse, which is all the rage for this year’s preschoolers, has nearly quadrupled on some sites from its original $55 price tag. Factory closures in China, labor shortages in the U.S., a freight container shortage, and a port backup are among the reasons for retail chaos. READ MORE
