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Get ready for fewer, more expensive toys on the shelves this holiday season

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  • Toy makers say parents should be prepared to buy fewer and more expensive toys this holiday season.
  • Paralyzing shipping delays, material supply issues and labor shortages are hampering toy companies.
  • Frenzied demand for holiday toys will push prices even higher.

As the end of year celebrations approach, toy makers worried about looming toy shortage it could threaten to deplete store shelves and raise prices for the season’s most popular toys, Retail Dive reported.

While many retailers struggle to overcome shipping delays, labor shortages, and material sourcing challenges, toy makers will also face an explosion in demand for toys during the holiday season, and toy makers encourage parents to buy early gifts for children.

“There is going to be a serious shortage of toys this year,” Isaac Larian, CEO of toy company MGA Entertainment, told CNN. “The demand is going to be there. What is not going to be there is the product to meet the demand.”

According to Retail Dive, a record number of cargo ships stranded at ports and shortages of longshoremen and truck drivers are creating delays in the industry as products remain stranded in ports for weeks.

Delays are also driving price increases, CNN reported, as the costs of a freight container have increased sevenfold since last year and rising labor and material costs lead to an increase. toy prices online and in stores.

In addition to shipping issues, Retail Dive reported that 60% of manufacturers have shortages of resin, which is essential for making the most popular plastic toys.

TO bypass looming shortages and rising toy prices, parents can try heading to stores for holiday gifts early – especially for the more popular toys – try creating handmade or DIY gifts instead of giving away store bought gifts, send virtual gifts like e-cards and buy from local businesses.

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