42 min

EP 6. The Price Surge: What it means for the wedding industry and how to get ready The Art Of Celebrating with Akeshi Akinseye and Michelle Durpetti

    • Society & Culture

On Episode 6 of The Art Of Celebrating Podcast, Hosts  and Chicago Wedding Planners, Akeshi Akinseye and Michelle Durpetti discuss the price surge and what it means for the wedding and events industry and share tips on how to get ready.

Early in the year, the hope was that the bottlenecks that gummed up the global supply chain in 2020 would be mostly cleared by now. They’ve actually only gotten worse — much worse — and evidence is mounting that the holiday season is at risk.

Across Europe, retailers such as apparel chain H&M can’t meet demand because of delivery delays. In the U.S., Nike cut its sales forecast after Covid-19 triggered factory closures in Vietnam that wiped out months of production.

And Bed Bath & Beyond’s stock plunged amid shipping woes, with Chief Executive Officer Mark Tritton warning that disruptions would last well into next year. “There is pressure across the board, and you will hear about that from others.”

Covid outbreaks have idled port terminals. There still aren’t enough cargo containers, causing prices to spike 10-fold from a year ago. Labor shortages have stalled trucking and pushed U.S. job openings to all-time highs. And that was before UPS, Walmart and others embark on hiring hundreds of thousands of seasonal workers to take on the peak of peak.

So, what does this mean for events, weddings and celebrations?

It means we have much to discuss on this topic plus we share a few insights on how to prepare.

Take a listen and please share.

Enjoy!

Connect with your hosts:

Michelle Durpetti  INSTAGRAM WEBSITE

Akeshi Akinseye INSTAGRAM WEBSITE

On Episode 6 of The Art Of Celebrating Podcast, Hosts  and Chicago Wedding Planners, Akeshi Akinseye and Michelle Durpetti discuss the price surge and what it means for the wedding and events industry and share tips on how to get ready.

Early in the year, the hope was that the bottlenecks that gummed up the global supply chain in 2020 would be mostly cleared by now. They’ve actually only gotten worse — much worse — and evidence is mounting that the holiday season is at risk.

Across Europe, retailers such as apparel chain H&M can’t meet demand because of delivery delays. In the U.S., Nike cut its sales forecast after Covid-19 triggered factory closures in Vietnam that wiped out months of production.

And Bed Bath & Beyond’s stock plunged amid shipping woes, with Chief Executive Officer Mark Tritton warning that disruptions would last well into next year. “There is pressure across the board, and you will hear about that from others.”

Covid outbreaks have idled port terminals. There still aren’t enough cargo containers, causing prices to spike 10-fold from a year ago. Labor shortages have stalled trucking and pushed U.S. job openings to all-time highs. And that was before UPS, Walmart and others embark on hiring hundreds of thousands of seasonal workers to take on the peak of peak.

So, what does this mean for events, weddings and celebrations?

It means we have much to discuss on this topic plus we share a few insights on how to prepare.

Take a listen and please share.

Enjoy!

Connect with your hosts:

Michelle Durpetti  INSTAGRAM WEBSITE

Akeshi Akinseye INSTAGRAM WEBSITE

42 min

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