Port workers are demanding job security, a wage increase and protections against automation.
A long-term paralysis of shipments could lead to higher prices and limited merchandise availability before the holidays.
Some analysts say the strike could cost the US economy as much as$5 billion per day.
Here’s what experts say the strike means for yourholiday shopping dealsand deliveries for now.
You may start to see higher prices and shortages of big-ticket gifts.
If the strike lasts and inventory can’t be delivered, availability won’t be the only issue.
Retailers will likely increase prices, saidLawrence Sprung, a certified financial planner and founder of Mitlin Financial.
“This can certainly force retailers to increase prices around the holidays and impact their overall sales negatively.”
It may be tempting to rush to buy essentials and gifts to avoid worrying later.
Yet the news of a pending strike could have given retailers time to prepare.
Retailers will likely continue offering holiday pricing andsalesfor now.
Even if the strike continues for a while, you shouldn’t go outside your spending budget.
Instead, consider affordable alternatives you’re able to get in time for the holidays, said Sprung.
