Inflation, what I’m seeing in my business:
1. Cost of delivering a container from Asia has gone from $3-4k to $7-8k
2. Cost of shipping to our customers has gone up about 10% (before accounting discounts caused by increased volume)
1. Cost of delivering a container from Asia has gone from $3-4k to $7-8k
2. Cost of shipping to our customers has gone up about 10% (before accounting discounts caused by increased volume)
3. CNY/USD has fallen about 10% making what we buy more expensive
4. Despite running our factory suppliers nonstop since May, we cannot stay in stock. We are raising prices (after turning off advertising) to stay in stock.
4. Despite running our factory suppliers nonstop since May, we cannot stay in stock. We are raising prices (after turning off advertising) to stay in stock.
There will be yearly price increases early next year and I expect them to be much higher than usual but who knows. If UPS, FedEx, and USPS had to raise prices before the holiday I imagine they’ll do so even more afterwards. They always raise more than CPI.
Been doing the entrepreneur thang for over a decade. I have never seen an economy is disjointed and bizarre as this. Crazy long lines at the food bank meet turbocharged e-commerce and consumer demand.
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