This year, Americans have to pay more for Christmas lights, as the average import price for lighting sets soared by 7% compared to the figures of 2020, reaching $3.08 per unit. The reduction in global production of lighting decorations and skyrocketed freight rates, combined with the increased cost of raw materials and energy resources, led to this spike in prices. From January-October 2021, U.S. Christmas lighting set imports totaled $511M, 10% more than in the same period a year earlier. In physical terms, the volume of supplies remained nearly unchanged against 2020’ figures, while shipment from China reduced significantly.
LOS ANGELES, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The average import price for Christmas lighting sets in the U.S. soared by 7% y-o-y to $3.08 per unit, a recent report by a market research firm IndexBox says. Prices increased for all foreign suppliers: Cambodia ($3.10 per unit; increase of +5.0% y-o-y,), Philippines ($3.17 per unit; +25% y-o-y), China ($3.75 per unit; +5.0% y-o-y).
From January to October 2021, the U.S. imported 150M units of lighting sets worth $511M. In value terms, imports rose by +10% compared to the same period last year, while the purchases in physical terms remained nearly unchanged.
China’s supplies fell by -20% to 15.5M units, or by -23% to $66.7M in monetary terms. This decrease was offset by rising imports from Cambodia, Vietnam, Mexico, the Philippines, Malaysia, Australia, the Netherlands and Hong Kong. Compared to the same period in 2020, this year’s growths of shipments from major suppliers were the following: Cambodia (+1.4%, to 91.3М units), Philippines (+3.3%, to 24.7M units), Mexico (+2.9% to 12.7M units).
Imports from Vietnam soared from 930K units to 3.2M units. Moreover, Malaysia, Australia, the Netherlands and Hong Kong have also significantly expanded their lighting set exports to the U.S.
U.S. Christmas Lighting Set Imports in 2020
The U.S. remains the world’s largest Christmas lights market, accounting for 22% of global import volume. Last year, U.S. imports amounted to 149M units. In value terms, purchases shrank modestly to $479M, IndexBox estimates.
Cambodia ($288M) constituted the largest to the U.S., comprising 60% of total imports. The second position in the ranking was taken by China ($90M), with a 19% share of total imports. It was followed by the Philippines, with a 14% share.
The growth rate of value from Cambodia amounted to +21.5% y-o-y. The remaining supplying countries recorded the following average annual rates of imports growth: China (-36.4% y-o-y) and the Philippines (-20.1% y-o-y).
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Companies Mentioned in the Report
Amazon, NOMA, Lumalite, Christmas Lights, Exterior Products Corp., Tree Classics, Holly and Hearth Light Co., Crystal Valley Decorating, Inc., Light Bulbs, Bulbman, Holiday Light Solution, B. E. Atlas Company, MSC Industrial Supply Co., Bulbtronics, Inc., Atlas Specialty Lighting, Take Three, Inc., General Electric Co., SmartRay Inc., National Specialty Lighting, Inc, Gemmy Industries Corp., GE Lighting, Winterland, Inc., Downtown Decorations, Inc., Siemens Corporation, Cooper Decoration Co., Inc., All Seasons Design, Leco Electric Mfg. Co., Inc., Brite Star Mfg.
Sources
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