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Price spikes on nearly everything, now hurricane season may make it worse
In 2021, we are facing down an above-average hurricane season that could cause serious disruptions.
HOUSTON — We are already seeing shortages and price hikes on everything from furniture to ketchup, but things could get worse thanks to this year’s hurricane season.
Let’s connect the dots.
It’s already a strained, active hurricane season thanks to the economic impact of the pandemic. Shifts in what we’re shopping for has caused serious delays when it comes to getting items on store shelves.
It’s left the supply side of our economy stretched thin, meaning any hiccup could cause big problems. In 2021, we are facing down an above-average hurricane season that could cause major disruptions.
Rush to prepare, price increases
Just because the season is predicted to be more active, doesn’t mean we will definitely get hit by a hurricane. But even if a storm just threatens the United States, people will race to get prepared.
We’ve seen it before. Crowds stocking up on everything from plywood to bottled water. Experts warn that surge in demand could drive up prices and cause even more shortages.
Delivery backlog technology help
If a hurricane does hit, you can expect a backlog of deliveries as everything pauses during the storm. That’s pretty normal but can still cause issues for months, especially if there is a lot of damage.
Experts hope changes in distribution due to technology, predicting demand and more regional distribution centers, will help. Since the system is already strained, however, the effects could be devastating.
The time to prepare for this year’s hurricane season is now.