Salesforce Projects Retailers Will Pay $223 Billion Extra For Goods In The Second Half

Retailers in the U.S. will spend $223 billion more in the second half of 2021 than in the same period in 2020, according to a Salesforce forecast released Tuesday. The amount represents a 62% increase from last year. It’s comprised of an additional $12 billion spent with suppliers, $48 billion more in wage expenses and $163 billion extra in logistics costs. Salesforce VP and GM of Retail Rob Garf said consumers, in turn, should expect higher prices. “Retailers will certainly take on some of the burden and consumers are going to feel it as well, but given the significant increase across the board from manufacturing to logistics to labor, it can’t be all passed on to the consumer,” he said. Read more at CNBC.