Survey: Delays, inflation are top concerns this holiday season

Survey: Delays, inflation are prime considerations this vacation season

Small and mid-sized companies say provide chain challenges are their prime concern this vacation season, adopted carefully by inflation, in response to a survey by DHL Categorical U.S., launched this month.

DHL surveyed managers and executives at U.S. companies to find out their expectations for this vacation season in addition to early 2023, particularly in gentle of lasting pandemic-related challenges, labor shortages, and record-high inflation.

With greater than 2,000 responses, the survey discovered that 46% of managers are most involved about provide chain delays this vacation, whereas 35% checklist inflation as their most important concern—greater than double the quantity who stated so final 12 months, in response to DHL. To offset rising prices, 60% of respondents stated their greatest precedence this 12 months is elevating the costs of their services or products. What’s extra, 78% stated they’ve already elevated their product pricing as a consequence of inflation—and by fairly a bit: 17% have elevated their pricing by greater than 20%; 22% have elevated their pricing by 11%-20%; and 39% stated they’ve elevated their pricing by 1%-10%.

Most companies predict large modifications by some means this vacation: roughly half of respondents stated they anticipate both a substantial enhance or a substantial lower in enterprise this peak season in comparison with 2021. They usually additionally stated they’d go to nice lengths to make sure a profitable peak: 44% stated they might volunteer as Santa on the mall if it meant their enterprise would exceed their vacation gross sales objectives; 21% stated they might reside within the Grinch’s cave; one other 21% stated they might spend Christmas week within the airport; and 14% stated they might costume as an elf for a 12 months—once more, if it meant their firm would have a profitable vacation season.

Looking forward to the New Yr, respondents stated there are some shiny spots on the horizon. Almost half (45%) stated their companies will profit from world growth in 2023, and 30% stated they anticipate the Inflation Discount Act, handed this 12 months, to be most helpful to their companies within the 12 months forward.

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