Deloitte, a famous Financial Consultancy, anticipates that the Christmas season sales for 2021 would increase between 7% to 9%, as consumers are more comfortable to step out and shop due to vaccination. As compared to 2020, Christmas sales would increase 11% to 15% this year, reaching $210 billion to $218 billion. Retailers and brands, therefore, should prepare to fulfil the expected demand of consumers.

As per the 2021 Global Imports Report from Jungle Scout, US import percentage is expected to rise up to 20% by the end of 2021. The regions and industries contributing to this rise are limited, as only 10 countries account for 72% of US imports. China is the top ranked country until now that has added most to the import percentage, while India accounts for growth of 76.1% and Vietnam 52.4%. The industries that played a vital role in raising US imports are Machinery and Electrical 20.3%, Miscellaneous 14.5% and Textiles 10.2%.

Open Text, a global research firm, claims that ethical sourcing is shaping the behaviours of consumers and influencing their shopping patterns. Globally 88% of consumers prioritize buying products from companies that have ethical sourcing strategies, while 58% of Japanese, 71% of Canadian, and 72% of US consumers think likewise. Moreover, 83% of global consumers are ready to pay more for a product, if they are ensured that it is ethically sourced. Top-ranked countries where consumers are willing to pay a premium amount are Brazil 87%, India 94%, and Singapore 87%.

The four disruptions in the supply chain industry that hinder the growth rate are listed hereby. 1, Fragmented systems; a single logistics company runs various software programs to manage inventory. Instead, there should be a single framework that monitors the whole shipment procedure. 2, Rising shipping costs; companies spent $20 on logistics for every $100 parcel. To control these prices, companies should raise their volumes to expect greater discounts from carriers and bring their products in closer proximity to their end customers. 3, Inventory management challenges; 35% of US-based warehouses don’t use warehouse management software, so they need to have a minimum of three fulfillment centers. 4, Threats by tech giants; companies need to feature autonomous alternatives for tech giants to excel in e-commerce and offer prompt delivery.