Prices Increase as the Holiday Season Approaches

By: The Quinnipiac University Economics Research Team, Jack Hangen

The Czech Republic has seen a rise in prices for consumer products due to fears of shortages occurring with the upcoming holidays. This fear has provoked Czechs to conduct more of their holiday shopping earlier in the year, especially in online retail. In these markets, products such as children’s toys and other common holiday gifts are being purchased in greater quantities than observed in previous years. The COVID-19 pandemic has also complicated shipping routes and extended shipping times around the world, further enhancing consumer fears of shortages in both online and on-ground retail stores. Despite this, domestic producers are assuring consumers they are prepared for the upcoming holiday season, with most sales being on Black Friday and throughout December .

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