WATCH: It’s bad news for Canadian retailers, but good for bargain hunters. Jeremy Hunka explains.
The Christmas season is critical for Canadian retailers, but a perfect storm affecting ports on the West Coast is threatening to hurt the bottom line for businesses, big and small.
Store owners are usually most concerned with moving stock off the shelf, but this year getting it on the shelf in the first place has sometimes been the challenge.
Granville Island business owner Erla Boyer says the impact on her business has been large enough that they ran out of stock on some items.
“It is especially damaging when it happens in the high tourist season on Granville Island,” says Boyer.
Big delays are hitting ports across the Pacific caused by everything from labour strife to driver shortages. Particularly in Los Angeles, delaying ships and their cargo from arriving in Vancouver.
Port Metro Vancouver told Global News in a statement, “Import container traffic is at or near record in several months year to date, which can be attributed to ongoing increases in container traffic on the West Coast of Canada, the peak holiday season, and some diversion of U.S.-bound cargo.”
Analysts say so far it’s unlikely the cost will be passed to consumers. In fact, shoppers may get a deal.
The late holiday season merchandise may end up on sale at a significant discount in January.
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