The current supply chain crisis is one unseen since World War II when 'there were submarines sinking commercial traders,' an expert says, and it's bringing disaster for shoppers as items are being resold for more than double their cost and shipping delays mean more barren shelves.
Holiday shopping is expected to be especially fraught this year, as buyers contend with aggressive resellers and inflated prices - some jacking up toy prices by 400%.
Basic Fun chief executive Jay Foreman - who has been working in the toy industry for more than 30 years - said the current situation is unlike anything he's ever seen.
'I would predict that there's never been anything like this disruption in the global trade supply chain since World War Two,' he told DailyMail.com. 'And you know World War Two, with a global supply chain was upset because there were submarines sinking commercial traders. We had a war going on.'
The Biden administration has come under fire for its 'too little, too late' response to the backlog after it announced West Coast shipping ports would be running around the clock to ease bottlenecks in the system.
Toy flippers are already charging hefty premiums for sold-out products and computer chip shortages could leave some sought-after items back-ordered for several months, meaning kids who've requested them for Christmas could be left sorely disappointed on December 25 - just over two months away.
American Girl's sold-out blonde winter princess doll, which retailed for $250, is now going for up to $999 on platforms such as Mercari and eBay.
The cat-themed Gabby's Dollhouse, which is all the rage for this year's preschoolers, has nearly quadrupled on some sites from its original $55 price tag.
Factory closures in China, labor shortages in the U.S., a freight container shortage, and a port backup are among the reasons for retail chaos.
The troubles are compounded by a lack of truck drivers, warehouses unequipped to receive mass amounts of product, the rising cost of fuel and more, Foreman said.
American Girl's sold-out blonde winter princess doll (pictured left), which retailed for $250, is now going for up to $999 on platforms such as Mercari and eBay. The cat-themed Gabby’s Dollhouse (picture, right), which is all the rage for this year’s preschoolers, has nearly quadrupled on some sites from its original $55 price tag
Mercari marketplace had the Winter Princess going for more than $1,000 with shipping from one reseller
The toy was on eBay for $175 plus $40 shipping, putting the item at more than $200
A reseller on Walmart.com had listed the item for $210
'Usually there's 10 or 15 things in a supply chain that can affect whether you get things or not,' he said. 'This year, all bets are off and of the 10 or 15 things that make a supply chain tick, eight or 10 of them are all out whack at the same time.
'Totally unprecedented.'
An up-and-coming toy called Tiny TV Classics is even getting snapped up faster than it can be produced, he said.
The problem is that the miniature televisions, which play snippets of real shows, require an integrated circuit chip that has a 200-day lead time.
It means that once those novelty items sell out, they'll be off the shelves for several months, Foreman said.
Production of other computerized toys is also being hampered by the chip shortage, he added.
'Even the Lite-Brite uses an integrated circuit chip, and that controls the movement of the light.
'In the Speak and Spell, it stores all the dialogue; that's all in these integrated circuit chips.'
Amid the frenzy, young shoppers are likely to be most significantly affected by the supply shortage, a recent Morning Consult survey indicated.
About 70 percent of Generation Z and millennial holiday shoppers said an item they wanted was already out of stock in stores and 72 percent said an item was out of stock online; 65% found an item to be backordered or delivery delayed. Responses were gathered from October 1-3.
Another Morning Consult survey published last week indicated that half of Americans have not yet begun their Christmas shopping as of October 11 - which means the supply chain crisis could be exacerbated as more and more shoppers look to make purchases.
About half of shoppers who have started buying gifts experienced supply chain issues, the survey found.
About 70 percent of Generation Z and millennial holiday shoppers said an item they wanted was already out of stock in stores and 72 percent said an item was out of stock online; 65% found an item to be backordered or delivery delayed
A Morning Consult survey published last week indicated that half of Americans have not yet begun their Christmas shopping - which means the supply chain crisis could be exacerbated as more and more shoppers look to make purchases
Bare shelves are seen at a Walgreen's in Minneapolis on Oct 9, 2021
Supply chain bottlenecks are resulting in empty retail displays across the country. Pictured: more bare shelves in Minneapolis on Oct. 9, 2021
'Demand has been off the charts' across a number of sectors, a consumer analyst said. Empty shelves above are seen at Mary Arnold Toys, New York City's oldest toy store, on August 21, 2021
It's not just toys and goods that are becoming harder to find ahead of the holidays.
Stocking the fridge for holiday festivities
