Market Insights with Mike: Pricing Trends and Influences Amidst a Shocked Supply Chain
By Camille Sheehan
BETHESDA, Md. – October 18, 2021 – The latest edition of Market Insights with Mike, published last week, takes a deep dive into some of the most prominent trends taking place right now in a continually dynamic economy. Topics covered in this in-depth edition include: high-demand parts and commodity prices; supply chain woes; inflation; driving patterns; and upcoming features in the Auto Care Association’s TrendLens™ interactive data platform.
Industry experts now foresee supply chain snafus to last through 2022. While inventories have increased since Summer 2020, businesses are likely to face challenges in having enough inventory to meet consumer demand this holiday season. This will cause friction for customers as they purchase scarcer products; a potential supply shortage could also lead to price increases. With inflation on the minds of many consumers, higher prices may result not only from product shortages, but also from higher shipping costs.
Learn more about the latest economic indicators, supply chain trends and what they can mean for the auto care industry in the latest edition of Market Insights with Mike on the autocare.org website.
About Market Insights with Mike:
Market Insights with Mike is a series presented by the Auto Care Association’s Director of Market Intelligence, Mike Chung, that is dedicated to analyzing market-influencing trends as they happen and their potential effects on your business and the auto care industry.