2021 Pricing Update
May 8th, 2021
Without a doubt, the pandemic has affected everything, making our lives very challenging at times. Flex Innovations and its overseas vendors are no exception to all of these disturbances that the pandemic has brought to the world. To this day, we continue to face many challenges with the manufacturing and transportation of our products. On the manufacturing side, the shortage of basic raw materials from interrupted global production and demand have made many of these materials extremely hard to get and very expensive as a result. Transportation of products has also been a challenge, with the astronomically high increase in ocean freight costs to transport these products both for raw materials to the manufacturers, as well as the transportation of finished products to the US. The cost of ocean freight from China to the US has more than doubled when compared to a little over a year ago. Shortage of manpower to manufacture model aircraft has also caused labor costs to double from what it was just over a year ago. As a result, the cost of our products has dramatically increased.
We always aim to bring you the most valuable product possible, and we work very hard every day to bring that to you. Unfortunately, due to the current circumstances, we are in a position where we have no choice but to increase our prices. While manufacturing and labor costs have increased and are unlikely to go down in the future, some experts say that there is potential for costs on the transportation side to decrease in the coming years once ocean freight and container flow is caught back up and re-established. With that possibility in mind, we want to be as fair as possible to our customers, so we have incorporated a new line on the checkout page of our website titled “Shared Ocean Freight”. This represents a small portion of the ocean freight cost increase (per product), and this value will adjust with the fluctuating costs of ocean freight. While there is not anyone who wants to see prices increase, we feel that this is the best, and most fair way to incorporate these ocean freight increases, rather than just simply increasing the price of products across the entire product line to account for these increases.
While this is never something we want to do, we do hope that you understand these challenges we face during these difficult times. Thank you for your continued support, and thank you for helping us continue to drive innovation in the industry. We wish you all the best!