Supply Chain Vulnerabilities Continue to Strain American Consumer Experiences
Survey conducted July 19-26, 2021
Americans are experiencing daily disruptions from global supply chain shortages — 60% were unable to acquire a product that they needed this summer, according to a Gallup poll conducted last month. Additionally, more than half of Americans experienced extraordinary delays in receiving an order, while 46% said they experienced both of these disruptions.
Across all U.S. states and income groups, 83% of consumers also reported seeing price increases while shopping for products this summer. Retailers’ inability to keep up with consumer demands has contributed to these rising prices — for example, grocery store food costs were 2.6% higher last month than in July 2020.
More than 18 months into the pandemic, global supply chain vulnerabilities are worse than ever, from major delays to temporary facility closures. With the spread of the Delta variant, it appears that these disruptions could last through 2022. The U.S. government and businesses are responding to these vulnerabilities by readjusting their focus on U.S. manufacturing and trade policies, including “friendshoring.”