Re: Inflation and Production
I would certainly not blame furniture manufacturers for raising prices if their costs are rising quickly and unexpectedly, as it appears they are. It's just the nature of the financial situation that we are in right now. If you want nice furniture, you've just got to be prepared to pay the price.
Re: Inflation and Production
I just ordered a recumbent trike. The USA based manufacturer had the same price from 2010 to 2020 which is amazing. They only raised their MSRPs by $200 in 2020 which is nothing compared to the cost of their recumbent trikes. However, their latest catalog they left the prices off so they can raise prices if necessary.
I was able to find one of these trikes in stock. Most bike shops are out of stock due to production delays. The manufacturer produces something like 10 to 20 trikes per day, yet they have well over 500 trikes waiting for a single component they can't get from the overseas manufacturer. They have shipped basically nothing for several months as every model they make needs this same component. One local bike shop said if I ordered now I probably could not get anything until June. The owner said he was probably going to drop the brand because customers don't want to wait nine months to a year for a recumbent trike. He carries another brand made in the UK and they are still able to deliver with some regularity and he actually had a few in stock.
Re: Inflation and Production
Although years of total reliance upon Asia to manufacture many items and component parts is now taking it's toll, it seems strange this manufacturer of trikes is in a state of peril - even survival - over a critical component part for all of their bikes/trikes. Numerous metal shops still exist that would compete for the contract to make "the single component" necessary to finish 500 bikes. There are hundreds of machine shops in every region of the country that could either make the part to customers specs or even design and make the part necessary to finish the trikes. The trike manufacturer's circumstance seems self-made. Perhaps they are short on ready cash and have all of it tied up in that particular part order, who knows....Metallurgy, Foundries and Manufacturing from China is inconsistent at best and in many instances, out and out fraud coupled with a relationship similar to working with a high seas pirate. I have seen insurance claims for death and serious injury traced back to poor and inaccurate metallurgy specifications on struts and support members made in China, metal tension and torque requirements not close to what was requested and paid for... We really need to take back quality manufacturing of many, many things we gave up too readily to the advances of NAFTA and Globalism. Self Reliance is a good thing.
Re: Inflation and Production
The component the recumbent trike manufacturer is waiting for is the derailleur. Not sure if front or rear derailleur, or both. I believe the derailleurs are made in Taiwan. The manufacturer builds their own trike frames and seat frames from aluminum in Orlando, Florida. I assume they can get the aluminum since they have hundreds of trikes made just waiting for the final components.
Re: Inflation and Production
Another round of price increases is coming. Taylor King sent a letter out today they are increasing 5% on all orders effective Monday, November 15th. If you are considering a new TK piece, you may want to make your final decision prior to that date.
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Re: Inflation and Production
Bradington Young has announced they will be increasing prices by 5% on January 5, 2022. We anticipate that all furniture makers will also be increasing prices at the start of the new year - there appears to be no end in sight due to cost of labor and materials.
Attachment 14219
Re: Inflation and Production
The best way to see what is happening in the industry and individual makers is to look at ready dates vs order dates. Here's some invoices that arrived this week These are production dates and don't include shipping times.
Taylor King: Order date April 13th. Ready to ship date Dec 1. Time 7 1/2 months
Hancock & Moore: Order date May 13th. Ship date Nov 16th. Time 6 months
Hancock & Moore: Order date May 9th. Ship date Nov 16th. Time 6 months, 1 week.
Re: Inflation and Production
Another day, another notice of a price increase. Hooker Furniture notified us this morning that they will be implementing a 15% increase on Hooker and a 10% increase on Hooker Upholstery, effective 1/11/2022.
Re: Inflation and Production
How soon before the price of this furniture has doubled from what it was in February 2020?