Supply chain shortage was the biggest challenge for retailers in 2021.
In fact, Salesforce data revealed that inflation persisted throughout the entire holiday season with prices up by 25% in the US YoY, while inventory shrank by 2% as compared to 2020 because of supply chain disruptions.
With the dawn of 2022, the omicron variant has again stirred panic amongst retailers. Another series of lockdowns may impact supply chain management harder. So, there is a strong likelihood that we are looking towards another year of supply chain shortages.
Having said that, the record-breaking sales on the 2021 holiday season despite high prices and inflation is a welcome sign that promises digital sales growth for this year too. But the catch lies in understanding the supply chain management better and strategizing accordingly.
So, to keep you en garde, we are sharing a few ways you can handle supply chain shortages to abate their impact on your Shopify store. Read on!