Rhode Island Novelty Reports Product Price Reductions for 2023
On Monday, Rhode Island Novelty announced further price reductions on new imports due to a decrease in ocean freight costs. Since the pandemic, ocean container pricing from China skyrocketed, resulting in the company passing the cost increases onto the consumer. Now, the company says, the prices are dropping, resulting on further savings in 2023.
Read the full statement from Rhode Island Novelty below.
Read the full statement from Rhode Island Novelty below.
Rhode Island Novelty is pleased to report that the ocean container pricing from China has and is continuing to drop. On each shipment that we have received, the landed cost was recalculated. Since September 2022 we have been able to reduce our selling price on over 1700 items. This trend is expected to continue.
Our buying/development departments have been very busy. We expect to receive over 1000 new items by the end of the 1st quarter of 2023. Many of these items are in catalogs and flyers that you will be receiving. These items are also on our website.
Although Covid cases are spiking in China, we are hopeful that we will not see the shutdowns that occurred in 2022.
This announcement should provide some much needed relief to novelty and game operators in the amusement industry.
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