MoneyDon't Waste Your Money


DWYM: Get ready to pay higher toy prices this year

DWYM: Get ready for higher toy prices this year
Posted at 11:06 AM, Aug 31, 2021
and last updated 2021-08-31 18:46:07-04

We've seen all the price hikes this year, and by now we are all getting used to product shortages.

But both problems are about to hit the toy market just as the shopping season starts.

Just in time for the holiday season, toy prices are rising.

And at the same time, supplies - just like with so many other things - are thinner than ever.

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 record highs.

That's led to Mattel announcing price hikes this holiday season.

But wait, there's more.

Once the toys get to the United States, 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.

And from the doesn't that stink file, the fight to find the Sony PS5 for the second Christmas in a row is looming.

Sony blames both shipping issues and this year's chip shortage that's 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.

Our advice? Don't wait until Black Friday this year to buy hot toys.

You're better paying a bit more to have it so you don't waste your money.