By now you’ve probably heard of the $20,000 shipping containers. The United States, and the globe is currently in a supply-chain crunch. Supply bottlenecks appear in every aspect from the manufacturing side, shipping logistics, and trucking.
How it affects the Footwear Industry:
On the supply side, the shortages have already changed how business is done. With inventory levels being in-stock to sold-out within an hour. It’s become increasingly important to get retailer's pre-orders in to reserve stock.
To tackle this problem, we’ve focused on updating our wholesale website. Our goal is to have an online product catalog, which can be adaptive to fast-changing inventory levels. We hope that our wholesale website can make it easier and faster for retail buyers to find in-stock products.
On the retail side, there’s already been an increase in consumer demand. This, coupled with supply chain issues, has led retailers to offer fewer shopper discounts. We have yet to see what’s to come during the holiday season of November and December. With the holiday season just around the corner, retailers are anxious about inventory levels.
Looking forward, being proactive will be the key to navigating through this holiday season. Despite the supply chain fiasco, the upcoming holiday frenzy is a welcome change from 2020.