The President of the Kiel Institute for the World Economy (IfW), Prof. Felbermayr, fears delivery bottlenecks at Christmas and warns of significant price increases.
Aldi and Ikea are also critical of the situation.
Kiel - The President of the Kiel Institute for the World Economy (IfW) Felbermayr warns of delivery bottlenecks at Christmas.
The reason for this is the current container chaos in the South China Sea and the global supply chain chaos.
"The Germans have to worry about their Christmas presents," Felbermayr told t-online.
The Christmas business is already on its way due to the long lead times, explained Felbermayr.
“China is the most important supplier for gifts in German living rooms.
Because of the delivery bottlenecks, the shelves in many shops are likely to be emptier than usual in December. "
Price increase: For televisions and game consoles up to 20 percent
“If there are delivery problems in Asia, we can feel them in the price.
We have to be prepared for the fact that many products from the Far East will become significantly more expensive in the coming months, ”warned Felbermayr.
How much the prices will rise on average is difficult to say.
"But for goods and gifts that are in high demand, electronic devices such as televisions or game consoles, we will certainly see a price increase of up to 20 percent."
Basically, the global economy is suffering a lot from the supply crisis, said the IfW boss.
“What is happening in China is dramatic.
These are painful cuts for the global economy.
When one of the largest ports in the world shuts down due to a corona outbreak, the traffic of goods bumps in other places as well. ”The port of Yantian in southern China suspended operations for six days among dock workers in May due to a corona outbreak;
Container ships could neither dock nor cast off.
Delivery bottlenecks: Ikea wants to reduce its range, Aldi is worried about promotional items
The
Wirtschaftswoche
reported on Friday, Ikea will restrict its range because of supply shortages in the coming fiscal year 2022nd A company spokeswoman told the newspaper that the plan was to "reduce the total product range in Europe by around five percent and in North America by around four percent." According to industry estimates, the world's largest furniture company is currently selling around 12,000 items in furniture stores. Ikea would then do without up to 600 items.
At the furniture and decoration supplier Butlers it is becoming apparent that articles “will be temporarily sold out,” said managing director Wilhelm Josten of
Wirtschaftswoche.
The discounter Aldi Süd fears that “there may be occasional delivery delays for promotional items in the coming weeks”. The hardware store chain Hornbach and the shoe retailer Deichmann also felt the disruptions in the supply chains.
(dpa)
