While the rebound in the global economy continued into Q2, it came with higher prices, supply chain issues and capacity constraints. Oil, metals, wood and other inputs also saw considerable spikes and the cost to transport a container from Asia more than tripled on some routes.
Below are some highlights from CBX Software’s Q2 2021 Retail Sourcing Report.
- Most economies were back in positive territory with vaccine rollouts, while some economies remained in lockdown under new waves of Covid-19.
- Container shipping capacity constraints and port congestion put supply chains under stress resulting in higher costs and order delays.
- Inflation is now a top concern, reaching 4% in the US, a level last seen in 2008.
It looks like the effects of Covid will continue long term, resulting in shifting market and consumer behavior, higher costs and greater volatility in global supply chains in the near term.
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The Sourcing Report aims to keep you ahead of the curve by providing facts, insight and analysis on issues impacting retail global sourcing.