Wholesale Fireworks
01-22-2021, 11:09 AM
2021 CONSUMER FIREWORKS UPDATE
We hope everyone had a happy and safe holiday season and want to wish everyone a happy New Year. As we begin 2021, we want to provide an update on the challenges that the consumer fireworks industry will face this Fourth of July season.
PRODUCTION & SHIPPING
The USA consumer fireworks industry had a record year for sales in 2020. As a result, many consumer fireworks companies sold out of inventory. The remainder of the consumer fireworks companies had minimal and limited inventory left to sell after July 4th, 2020. This led to massive orders for consumer fireworks from the USA which have maxed out the production capacity of Chinese fireworks factories. Due to COVID-19, the demand from USA importers across all business sectors has also reached an all-time high. This in turn has led to logistical problems in China and the USA which have caused delays and increased freight cost. In the case of consumer fireworks, less fireworks containers are being shipped on a weekly basis and freight costs have been increased 60% per container. Moreover, the Chinese government?s record revaluation of RMB vs USD has increased 2021 product cost 6%-10%.
AVAILABILTY & PRICING
We are working with our vendors, factories and freight companies daily to track production and shipments. Production in China is running at full speed leading up to Chinese New Year and consumer fireworks warehouses in China are filling up with stock for the USA market. Unfortunately, logistical problems such as a lack of empty containers to load, limited sailings of container ships and port congestion in the United States are delaying deliveries to all USA fireworks companies. All these factors indicate that there will be a shortage of product for the 2021 July 4th fireworks season and that a high percentage of product will be arriving later than usual. Logistical delays, increased freight cost and increased product cost will raise the 2021 prices an estimated 10% - 20%. For these reasons, we will tentatively publish the 2021 price list on February 15, 2021 with new pricing and discount structures.
The good news is all items that are currently in stock will stay at 2020 pricing until February 14, 2021. We encourage you to buy early and save. Please keep an eye on our website and social media for new pricelists and other announcements. If you have not already, please register on WFBOOM.COM to get added to our email list to receive product and discount updates.
Many of you have seen this same information from other companies. As you can see its not just hearsay, it is fact. Please keep checking our website for product updates and thank you all for your patience.
http://www.wfboom.com
We hope everyone had a happy and safe holiday season and want to wish everyone a happy New Year. As we begin 2021, we want to provide an update on the challenges that the consumer fireworks industry will face this Fourth of July season.
PRODUCTION & SHIPPING
The USA consumer fireworks industry had a record year for sales in 2020. As a result, many consumer fireworks companies sold out of inventory. The remainder of the consumer fireworks companies had minimal and limited inventory left to sell after July 4th, 2020. This led to massive orders for consumer fireworks from the USA which have maxed out the production capacity of Chinese fireworks factories. Due to COVID-19, the demand from USA importers across all business sectors has also reached an all-time high. This in turn has led to logistical problems in China and the USA which have caused delays and increased freight cost. In the case of consumer fireworks, less fireworks containers are being shipped on a weekly basis and freight costs have been increased 60% per container. Moreover, the Chinese government?s record revaluation of RMB vs USD has increased 2021 product cost 6%-10%.
AVAILABILTY & PRICING
We are working with our vendors, factories and freight companies daily to track production and shipments. Production in China is running at full speed leading up to Chinese New Year and consumer fireworks warehouses in China are filling up with stock for the USA market. Unfortunately, logistical problems such as a lack of empty containers to load, limited sailings of container ships and port congestion in the United States are delaying deliveries to all USA fireworks companies. All these factors indicate that there will be a shortage of product for the 2021 July 4th fireworks season and that a high percentage of product will be arriving later than usual. Logistical delays, increased freight cost and increased product cost will raise the 2021 prices an estimated 10% - 20%. For these reasons, we will tentatively publish the 2021 price list on February 15, 2021 with new pricing and discount structures.
The good news is all items that are currently in stock will stay at 2020 pricing until February 14, 2021. We encourage you to buy early and save. Please keep an eye on our website and social media for new pricelists and other announcements. If you have not already, please register on WFBOOM.COM to get added to our email list to receive product and discount updates.
Many of you have seen this same information from other companies. As you can see its not just hearsay, it is fact. Please keep checking our website for product updates and thank you all for your patience.
http://www.wfboom.com