Gaming consoles, smartphones, computers, and tablets are topping people’s wish lists this year. While these devices are always in high demand at the end of the year, finding them in 2021 is a greater challenge than ever. Right now, online retailers’ out of stock product numbers are expected to rise 360% from 2019, with electronics being one of the most affected categories. Supply chain disruptions are hitting the tech industry hard, raising prices by as much as $50 per gadget. Holiday tech shortages are real.
The two main issues affecting new tech are chip shortages and supply chain hindrances. A 30% chip cost increase is anticipated through 2022. Right now, only about 1 in 8 of all global chip manufacturing happens in the US. When it comes to shipping goods from Asia, both sea and air freight have seen absurd cost increases. Sending a 40-foot container from Asia to the US costs nearly 14x what it did 2 years prior. Asia-US air cargo rates are normally higher than maritime, but right now they’re also up 40% since the end of August. Even people willing to pay the higher prices for new tech will find themselves waiting well into January for the goods to arrive.
Savvy shoppers are looking for a way around the shortage. One avenue they can explore is the regifting of used tech. There are more than 120 million used smartphones available worldwide, many in the US already. Simple repairs like battery replacement can return an old device to like-new condition as well.
Learn more about holiday tech shortages and what you can do about it below: