Retail entrepreneurs who want a piece of consumers’ holiday budget may need a new strategy this year. U.S. retailers will face an extra $223 billion in costs of goods sold this holiday season due to significant year-over-year cost increases for freight, manufacturing, and labor, according to Salesforce’s Q2 Shopping Index. The report analyzed the online shopping activity of more than one billion shoppers in 51 countries. Salesforce predicts that retailers will pay $12 billion more for raw materials this year than they did over the same period in 2020. What’s more, ocean freight spending in the second half of 2021 is expected to grow by $163 billion more year-over-year. Those added costs will hit suppliers, retailers, and finally, consumers. Read more at Inc.