WXYZ: Kevin Ketels on supply chain issues affecting small businesses
This holiday shopping season will be unlike any we’ve seen before. Inflation is now impacting the pocketbooks of all Americans, and consumer prices jumped more than 6% in October, the steepest rise in more than 30 years. There’s also the supply chain chaos, leaving items in short supply. In October alone, online shoppers encountered more than 2 billion out-of-stock messages, roughly double the same as last year, and many small businesses are losing out. “We are seeing consumer behavior has evolved and changed and it’s still settled in, and we are still waiting on all these products to come from Asia as an example and the demand hasn’t let up,” said Kevin Keels, a professor at the Mike Ilitch School of Business at Wayne State University.
