Final sales for Cyber Monday fell short of estimates and didn’t surpass last year’s record as lackluster sales and scarce inventory kept shoppers from breaking out their credit cards during the start of the holiday shopping season.
President Biden said his administration has made strides toward relieving U.S. supply chain disruptions after the leaders of major retailers assured him they have ample inventories for the holiday season.
Online spending totaled $8.9 billion on Black Friday, a number that was at the low end of expectations and slightly less than last year, according to the latest tally from the Adobe Digital Economy Index.
The number of days containers are waiting to be picked up by trucks at California’s neighboring ports of Los Angeles and Long Beach climbed to a record in October, just before officials announced a new plan to clamp down on the backlog in collections.
The high-profile but temporary unavailability of semiconductors and other industrial components is getting a lot more coverage these days than the chronic shortage of an even more vital resource: water.