Don’t Waste Your Money: Toy Price Hike

Don't Waste Your Money

(WHTM) — Just in time for the holiday season, toy prices are going up. At the same time, supplies, just like with so many other things, are thinner than ever.

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First, it was grocery shelves, then clothing racks and now toy departments are getting thin. Why? Forbes Magazine blames a pandemic-related shipping container crisis with Chinese ports backed up and shipping fees at all-time highs, which has led to Mattel announcing price hikes this holiday season.

But wait, there’s more. Once the toys get to the U.S. Forbes says there are not enough truck drivers to get them to stores. The CEO of Little tykes says, “Everything that could go wrong has gone wrong at the same time.” That means supplies of hot toys will be short well before Black Friday.

From the “doesn’t that stink file” — the fight to find the Sony PS5 for the second Christmas in a row. Sony blames both shipping issues and this year’s chip shortage, the same shortage that caused auto plant shutdowns. Ships, chips, trucks and staffing issues are all combining to make supplies tight and prices high, and that stinks.

My advice? Don’t wait until Black Friday this year to buy hot toys: better paying a bit more to have it so you don’t have to waste your money.

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