Retail experts have warned shoppers they should early in order to avoid disappointment over the holiday season, especially when it comes to the hottest toys.
“There will definitely be weeping children this holiday season,” retail consulting firm Alix Partners managing director Joel Bines told the Financial Times.
Bines said that while he doesn’t expect bare shelves everywhere he did believe that many retailers would struggle to stock some of the most coveted items.
Toys have been one of the most heavily impact categories affected by the global supply chain crisis.
Toy manufacturers have reported that millions of dollars worth of goods are being stuck in factories or on container ships as a result of supply chain delays and shortages.
READ MORE: Supply chain crisis hammering consumer confidence, economic recovery and driving inflation to 10-year highs
Toy maker MGA International chief executive Isaac Larian told Bloomberg: “Everything that can go wrong is going wrong at the same time.
Larian said that he hadn’t seen a situation like this in his 40-year career.
Experts have also warned that rising demand and pressures on the supply chain is likely to make seasonal discounts unlikely.
Prices have been forecasted to rise from anywhere between five per cent and 30 per cent over the course of the next few months.
“The installation of raw material and labor has gone up exponentially,” Larian said in a recent conversation with CNN.
“We’ve seen a 23 per cent increase in cost of product in China without the logistics. That is going to translate to higher prices with retail.”