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Americans could pay 20% more for holiday gifts this year, analysts say

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SAN FRANCISCO - Salesforce, a global software company, predicts holiday shoppers could pay up to 20% more for their gifts this year compared to last year.The company also predicts online sales will grow 7% following the 2020 holiday shopping season.Company analysts point to multiple reasons why wallets and purses could take a hit this year — from the COVID-19 pandemic to the backup of cargo ships at America’s ports. RELATED: COVID-19 lockdowns, crowded cargo ports leading to holiday shortagesAccording to The Wall Street Journal, tens of thousands of containers are stuck at the ports of Los Angeles and Long Beach, California, the two West Coast gateways that move more than a quarter of all American imports.

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