Since March of 2020, the private label industry has felt the effects of the Covid-19 pandemic. Product and labor shortages, inflation and supply chain challenges have all impacted the retail and grocery sector, often in a combined fashion.
Nearly four months into 2022, as Covid-19 cases continue to fall for the time being, the problems associated with the virus that impact the global supply chain still remain.
“Some of the main strains on the global supply chain that are expected to continue into 2022 are semiconductor supply shortages, shortages in container shipping, and shortages in professional labor for transportation carriers and at seaports,” said Carman Allison, VP of sales and development at NielsenIQ. “The rising costs of transportation, labor, and energy are challenging the global supply chain while also impacting financial institutions and governments all over the world. The reason: rising costs are another way to describe the next point of our predictions, inflation.”