Kevin O'Leary loves a good deal, but he's not waiting for holiday prices to drop any further this year.
The "Money Court" judge and chairman of O'Shares ETFs tells CNBC Make It that supply chain issues are poised to wreak havoc on Christmas lists all over the country, and that consumers who want to put presents under the tree should get a head start on their buying.
"In almost every hard goods sector, whether it's luxury goods, high end apparel, purses, clothing for men, there is a huge problem in the supply chain," O'Leary says. "I would tell people: You better buy gifts now, like right now, because you're going to start seeing shortages everywhere."
You should move particularly quickly if you're buying gifts for children, O'Leary says. Many of today's popular toys run on semiconductor chips, which are in the middle of a prolonged shortage. Instead, he suggests, consider "classic" toys like puzzles or Play-Doh that don't rely on technology.
Get DFW local news, weather forecasts and entertainment stories to your inbox. Sign up for NBC DFW newsletters.
"This is unique," he says. "There's never been a holiday like this one. We're going to see a lot of unsatiated demand."
O'Leary suggests that consumers are currently ready to spend, almost regardless of price or discount. Savings rates recently hit record highs, and shoppers are "simply not going to wait" for sales to start, he says. His prediction: Items that go on sale will largely be knock-offs, or otherwise less desirable gifts.
"You're going to see a lot of offerings, but they won't be the primo toy, they won't be the primo watch, they won't be the primo pan or whatever it is you're looking for," he says. "Those will be bought now before the sale."
Money Report
For his part, O'Leary says he's already finished his holiday shopping. "I've done this with my own family," he says. "I know exactly what everybody's getting and I've already bought it and I've hidden it. So I'm ready."
For the non-family members on his list, O'Leary says he's sticking with a tried-and-true holiday gift: an envelope of cash.
"They're going to love it," he says. "Cash is never unpopular."
Sign up now: Get smarter about your money and career with our weekly newsletter
Don't miss: Why Kevin O'Leary shops at Walmart: 'I hate wasting money'
