Russ Dudan Chief Executive Officer | Official Website
Russ Dudan Chief Executive Officer | Official Website
Inflation is currently a significant concern, with economists debating its potential duration. Manufacturing companies are advised to prepare for possible impacts on profits and operations. The Federal Reserve's April 2021 meeting minutes indicate an expectation for inflation to stay slightly above 2% this year, returning to the target of 2% by 2023. However, some economists predict higher and more prolonged inflation.
Manufacturers are already facing increased costs for raw materials such as lumber, steel, copper, chemicals, and semiconductors due to rising prices.
A Salesforce study highlights expected digital sales growth during the 2021 holiday season amid a 20% rise in consumer costs attributed to supply chain issues and labor shortages. Salesforce anticipates a 7% year-over-year increase in global digital commerce for November and December, down from last year's 50%. In the U.S., a 10% growth is expected compared to last year's 43%.
Salesforce projects total digital sales will reach $1.2 trillion globally and $259 billion in the U.S., driven by increased consumer prices despite anticipated declines in holiday orders globally (-2%) and in the U.S. (-4%).
In light of ongoing inflation challenges, businesses are encouraged to partner with transparent companies like Allis Roller regarding pricing and project terms.
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