you might want to do your Christmas shopping early, if you're able to.
https://www.cnn.com/2021/08/29/busin...ays/index.html
Top toymakers say their products will be harder to find and more expensive this holiday season
The makers of some of the most popular toys in the United States sounded the alarm this week about the global shipping crisis and labor shortages limiting their ability to keep stores stocked throughout the fall holiday shopping season.
"There is going to be a major shortage of toy products this year," MGA Entertainment CEO Isaac Larian told CNN Business. "The demand is going to be there. What is not going to be there is the product to fill the demand."
"Whoever is telling you it's only the small toy companies' problem is full of it," Larian said. "MGA is the fourth-largest toy company. We are not small. The beauty of MGA is we are private, so I can talk to you openly."
The container that cost $3,200 last year is now $22,000," Larian said. "The installation of raw material and labor has gone up exponentially. We've seen a 23% increase in cost of product in China without the logistics. That is going to translate to higher prices with retail."
Consumers can expect price increases of 5% to 10%, according to toy industry insider Jim Silver, CEO of Toys, Tots, Pets & More, a leading consumer video review site.