Prepare to face a 5% to 15% jump in prices for live trees.
If you’re planning on buying a Christmas tree this year, start thinking about it now — and maybe even put some money aside.
With inflation at a 40-year high and prices on consumer goods and services up 8.2% in September compared to last year, Americans are cutting back on discretionary spending and dipping into savings to pay for rising bills.But they are also hunting for bargains: 58% of consumers said sales and promotions are more important to them compared to last year, according to the holiday season survey by the National Retail Federation.
More than a third of growers said costs rose 11% to 15%, while more than a quarter of growers said costs rose by 16% to 20% compared to the previous year. — Marsha Gray, executive director of the Real Christmas Tree Board “Of course, prices vary based on location and type of tree,” Tim O’Connor, executive director of National Christmas Tree Association, told MarketWatch.
The heat wave in the Pacific Northwest last year was unique for the industry. It affected seedlings and scorched some tree branches, Gray said, but because of the long life cycle of the crop , farmers had time to manage their inventories to prevent a shortage. Since then, retailers have storing trees in their distribution centers, “which is not what you want, because Christmas trees are bulky,” he told MarketWatch.
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