**Coastal Panic Buying Sparks Concerns as Port Strike Enters Third Day**
As the East and Gulf Coast ports strike continues, consumer anxiety over potential product shortages has led to frantic buying sprees, leaving store shelves barren. The National Grocers Association is urging calm, assuring the public that independent grocers are working to secure alternative supply options and manage inventory efficiently.
With over 21,000 independent grocery stores in the US, generating $250 billion in sales and providing over a million jobs, the industry is taking proactive measures to minimize disruption. While some fresh produce items may be affected, they will be restocked quickly once the strike ends.
The National Retail Federation notes that retailers have been preparing for the possibility of a strike for months, frontloading shipments of essential products. They stress that there is no need for panic buying, and encourage consumers to shop responsibly.
However, former Walmart CEO Bill Simon warns that panic buying can have a cascading effect on domestic products, leading to upward pressure on prices and a chilling effect on consumer spending. He emphasizes the need for a swift resolution to the strike.
Meanwhile, grocery store owners like John Catsimatidis and Stew Leonard, Jr. report that panic buying is underway, with toilet paper and paper towels being the most sought-after items. They express concerns about the impact on produce departments and are exploring alternative transportation options.
Data shows that almost 2,000 containers filled with fresh produce are stuck on vessels anchored off the shuttered ports. The situation has sparked calls for President Biden to invoke the Taft-Hartley Act to extend negotiations and prevent further disruption to vital trade.
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