Whether you're shopping on Black Friday — or even earlier — you might notice higher prices this year. High demand coupled with labor shortages is fueling the supply chain crisis and the pressure is on to find the right gifts for your loved ones.
Joseph Sarkis is a management professor at Worcester Polytechnic Institutes's Business school and he says it's all about being flexible this holiday season.
"Getting a great deal has to do with supply and demand. Basic economics," he said. "Unfortunately, at this time, as we all know, the supply is very tight and the demand is pent up,"
But how can you find the right gift without going over budget?
"There might be a situation where certain products are a very good deal because they have excess quantities of it," Sarkis said. "Those are rare but they can probably be found."
So if you can't find exactly what you're looking for this year then you may have to get creative.
One tip is to gift experiences like movie tickets, concert tickets and other events that are in ready supply. You could also do things like gift cards, gift certificates or even just plain hard cash.
Another tip is to consume less. You could try re-gifting items, planning an experience with your loved one or even making them something special by hand. The key is to not stress because there are options out there.