U.S. President Joe Biden and representatives from retail companies confirmed on Monday that the supply issues the nation has faced since summer are beginning to improve, emphasizing that consumer activity is rising as the holiday season approaches. Biden stated in remarks made at the White House that the country has seen "progress" in logistics, noting a decrease of "over 40%" in November in the number of containers waiting on port docks for more than eight days to be unloaded.
Meg Ham, president of the Food Lion supermarket chain, who stood beside him, said, "We have enough goods" to fill the shelves. Doug McMillon, CEO of retail giant Walmart, remarked that there has been "a lot of progress" in product delivery, highlighting initiatives launched by the White House to expedite port activities in particular. He added during a video conference, "We believe we will have a great holiday season."
According to Mastercard, sales on Black Friday, the famous discount day in the U.S., saw a jump of 30% compared to the same day last year. The COVID-19 pandemic caused disruptions in the global supply chain, leading to delays in the arrival of goods and products in the United States, which resulted in rising prices. This issue raised concerns as the Christmas and New Year's holidays approach, with experts predicting a shortage of goods during this high-consumption period.
