atomic he is with us, the ceo of icsc. this is bloomberg. ♪ romaine: today we are focused on price pressures. they are being felt across industries. co warner -- ceo warner spoke with us at the new economy forum in singapore about the impact on his business. >> we have seen that there is quite a bit of cost pressure that has come to us driven by the fact that supply chains have not been as stable as they used to be before the crisis. we have seen significant increases. everybody is talking about transatlantic transportation, airfreight's which is even more expensive, and then life-saving products that need to come to patients and customers, that is what we do. there are also prizes that are of limited impact for us but we feel it in our production. in the last, some materials are increasing and the labor cost increases that we will see starting 2022. >> do you think they will continue to rise in 2022? >> i do think we will certainly see that. when we come to discussions with the unions, merit increases and the like, people

. >>> joining me, tom magee, ceo of icsc of the market industry. good to see you.right now. >> first of all. thanks for having me on, and happy thanksgiving. >> happy thanksgiving. >> you know, this is going to be an exceptionally strong holiday season. we expect 8.9% growth. you know, there are all the conditions toward a strong season exist. over this thanksgiving holiday, 86% of consumers will shop. they'll spend nearly $110 billion. so you know, while there is a -- clearly a strain to consumer sentiment that's being driven by things like supply chain issues and higher inflation, it hasn't yet translated into consumer demand. generally speaking, you know, the supply chain issues are real, but many retailers have done a very good job of trying to anticipate that, and obviously accelerating inventory earlier in the season and then trying to lengthen the holiday season by encouraging shoppers to go out earlier. >> well, speaking of going out earlier, for those who are procrastinators that i know and normally are, you know, frequently looking for things on like the