Port strike could affect holiday shopping: How consumers can prepare

Amid the threat of product shortages and rising costs, consumers should begin their holiday shopping now or set aside extra cash reserves, an expert says. 

Stephen Schwartz, managing director of Wells Fargo Global Supply Chain, Trade & Channel Finance, said consumers will begin to face a ripple effect of financial and logistical challenges stemming from the port strike. This would lead to potential price increases, shortages and inflation. 

The "impact may not be immediate, but...