Supply chain crisis hits artificial trees, decorations
FOX Business’ Lydia Hu talk to the National Tree Company CEO Chris Butler about how supply chain issues are driving up prices for artificial trees.
The global supply chain crisis' latest victim: artificial trees.
The ongoing issue plaguing the U.S. economy is now driving up the cost of in-demand products right when consumers want them most.
Fake trees are in such high demand that if consumers want to nab their desired tree, they should "get online this weekend and buy now," National Tree Company CEO Chris Butler told FOX Business' Lydia Hu.
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"This weekend is a very big weekend, next weekend is a huge weekend" for tree shopping, Butler said, noting that supply is down compared to years past.
Artificial Christmas trees in green, purple and white at a decor store (iStock / iStock) "We are about 10% down versus what we planned," Butler said. Over the summer, Butler said, the company "saw an incredible tightening of containers and supply chain." On top of that, the price of shipping containers surged from $2,000 last year to about $20,000 this year, he added. GET FOX BUSINESS ON THE GO BY CLICKING HERE This ultimately drove up the cost of the product. The average price for an artificial Christmas tree is about $104, according to the American Christmas Tree Association. In order to overcome rising costs, Butler said his company had to raise prices about 25% across the board. Source: Read Full Article
