Halloween is just around the corner, and most everyone agrees the hottest costume trend this year will be Barbie. Whether dressing up in the classic signature pink dress and ponytail or getting inspired by one of her fascinating career paths, there are many ways to put together a Barbie costume. Unfortunately, not every trick-or-treater will be so lucky.
Retailers placed their orders extra-early for the 2023 spooky season, after being haunted by delays over the past few years caused by COVID, climate change and extreme weather. While shipping containers are no longer as expensive as they were at the height of the pandemic, they’re still not moving very quickly, with ocean congestion far above pre-COVID levels. Plus, there are more worries currently, including strikes and new methods of sourcing. In fact, the number of companies pursuing nearshoring nearly tripled in 2023, according to McKinsey’s Pulse survey, and there's often a learning curve.
All of these issues contributed to Halloween costume manufacturers and retailers sourcing their products extra-early — nearly two years ahead of time in some cases. Julie Niederhoff, associate professor at Syracuse University’s Whitman School of Management, says six-to-eight months in advance is the best-case scenario when choosing what costumes, decorations and candy to make or buy; quantities needed; raw materials required; and how and when to ship.
Meanwhile, another frightful news item is a looming candy shortage. Sugar prices are at their highest levels since 2012, reports The Wall Street Journal, “boosted by disappointing harvests in some of the world’s largest producers and strong demand in China.” The cost of sugar has been on the rise for a while: I wrote last year about a 13% jump in candy prices. The main cause in 2022 was inflation. Now, the disappointing harvests are climate related, an ever-present and clearly worsening issue for supply chains everywhere. El Niño, the climatological phenomenon that periodically affects weather patterns, takes much of the blame for reduced crop production. And experts predict the meteorological event could reduce sugarcane yield by as much as 10-15% globally.
Costume of choice: The talented supply chain professional
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