February 3, 2021
UPDATE: February 18th – Click above for our webinar recap.
As part of our ongoing effort to keep our customers informed on the issues facing the consumer fireworks industry, we are providing this summary on the latest shipping, cost and production news. Our industry is facing a number of challenging conditions that will impact supply and costs for 2021.
As we mentioned in December, we are facing multiple challenges this year that are not only impacting the consumer fireworks industry, but also other industries. In brief review, our containers from China are incurring an additional $5800 fee per container and the US dollar has significantly weakened against the Chinese RMB. To help our customers, we offered our warehouse inventory at 2020 pricing before we started receiving 2021 products with these new fees. We are now in a window where the products we are receiving are subject to the $5800 fee. Accordingly, as of February 1 we have updated our prices to reflect the additional expenses we are incurring to import fireworks.
In late January we were also informed that another $3600 per container fee would be added for fireworks departing China. With this new fee, we will be charged at least $9400 per container in addition to the standard shipping rates. These additional expenses, as well as the exchange rate changes, will likely force us to increase prices again.
We will continue to do our best to provide you with the lowest pricing possible. Consequently, we are offering our in-stock inventory and soon-to-be-received products at pre-season pricing through March 3rd . To secure the current price on these products, we require an order with a minimum down payment of 50%. The current offer does not include products that are subject to the additional $3600 per container fee. We will re-evaluate our pricing in early March, at which time our pricing may increase again due to the new $3,600 fee and other new expenses.
We encourage you to purchase now before we are forced to implement another price increase. We know containers will start arriving in March that are subject to at least $9400 in fees. On top of the increased freight costs, it is very likely there will be a shortage of fireworks for this season. Increasing fees, weakening exchange rates, and anticipated shortages are going to make 2021 a challenging year. We stand firm in our commitment to being your partner in facing these challenges head-on.
Again, we urge you to order now. Do not wait – order today to secure available products and pricing.