Nobody likes surprises, especially price increases. We?ve all seen how the pandemic has interrupted supply chains across most industries and caused prices to rise as well as product shortages. With product shortages and skyrocketing shipping costs, the flooring industry is no exception.
To date, we have been alerted by 6 manufacturers that prices will rise on or about January 3, 2022. Given the current global supply chain issues, we expect all manufacturers to raise their prices before the new year. While most manufacturers have not yet shared their new pricing, one large manufacturer has told us to expect rises of 3-10%, depending on the material. We?re providing you with as much advance notice because nobody likes surprises, especially higher prices.
We can look to the global pandemic as triggering these price increases, not to mention product shortages. When manufacturers had to suspend production during the height of the pandemic last year, it was only a matter of time until supply issues caught up with us.
Thankfully, we?re beginning to see signs that these issues will begin easing in the new year. It was announced on October 13th that the ports of Los Angeles and Long Beach will now operate 24x7 which should go a long way in clearing up the backlog of tankers full of goods.
Please keep this in mind as you shop for your new flooring over the next 8-10 weeks. If you can work it into your schedule, you?ll likely save a considerable amount of money by buying sooner rather than later.