This means electronics, toys and some other products will be in short supply this holiday season — if they’re not already.
In April, the Associated Press reported that the shortage has been rippling through various markets since last year, making it difficult for schools to buy enough laptops for remote learning and creating a scramble to find the latest video game consoles. Bloomberg reported Tuesday that the shortage could cause a cut in production of the iPhone 13.
The agency recommends that you get your holiday shopping done soon or risk not being able to find that perfect holiday gift. Black Friday could even be too late, the agency said.
According to the BBB, the shortage could also result in fewer holiday deals and higher-than-normal prices.
The Better Business Bureau is warning of a microchip shortage that could leave you with fewer gifts under the Christmas tree this year.
The computer chip shortage has been one of the most far-reaching, since the chips are a critical component in automobiles and other manufactured goods.
“If you find it, grab it right now,” said Leslie Blackwell, the director of public affairs at BBB serving central Virginia.
One of the owners of World of Mirth, a toy store in Carytown, told WRIC that the shop is already dealing with plenty of backorders, and that some vendors aren’t taking any more orders for the rest of the year.
Blackwell explained that the microchip shortage affects even the simplest electronic items, such as toys with lights and sounds. “Whether it is a microchip or a potato chip, there’s seems a supply shortage going on right now,” Blackwell said.
The shortage is compounded by a lack of workers, floating traffic jams, a stressed trucking industry and factory backlogs. If you want to stick to your budget and score all the gifts on your list, the BBB is offering these tips:
“When you’ve got shortages, who comes out of the woodworks but the fraudsters,” Blackwell said.