Post 4th Industry Update
Whew, we did it and we said farewell to another Independence Day. From all of us here at Spirit of ‘76, we hope your season was successful, safe and profitable.
What a strange and interesting few years it has been.
• 2020 brought us China production issues, COVID with uncertain times, followed by people clamoring for fireworks on July 4th
• 2021 brought us shipping, supply and demand issues, then record sales in the consumer fireworks market
• In 2022, we experienced more supply chain issues and (let’s just say it out loud) freight costs from China that were obscene
We all know that since the beginning of the pandemic there have been many highs and lows. It is safe to say that the last three years have been unique and unprecedented.
What does 2023 have in store for consumer fireworks?
We want to share the little knowledge and information we currently know so we can provide some insight into the status of the industry going into the next year.
The preliminary pricing we have received from our Chinese suppliers suggest that they will be raising their 2023 FOB prices by 5-25%, depending on the product. This, combined with the uneasy overseas and domestic freight costs, hints that our industry will face continuing cost increases for the 2023 New Years and 4th of July seasons.
At Spirit of ‘76, the 2022 season was like no other from a supplier fulfillment perspective. As a result of supply chain problems, we received a historic number of containers in late June with more coming after the 4th. To put it another way, we have a lot of stock on hand. While we can’t control rising production costs and the freight challenges, we can offer a buying alternative for you this year that we feel may be mutually beneficial.
We need to make room in our warehouse for our 2023 orders. To meet this objective, we are announcing a Summer Warehouse Sale. For a limited time we are offering historic reduced pricing on fireworks we will be discontinuing this year and special pricing on other items. In addition, we are extending significant shipping discounts on orders of 200 or more cases. Please click on this link for more information about the sale and contact your sales representative to place your order.