As you will be aware, since the recent referendum economic uncertainty has meant that the value of Sterling has declined very sharply. You will also be aware that most products for sublimation and garment decoration are manufactured abroad and hence we buy them (according to source) either in US dollars or Euros – and of the products made in the UK nearly all are made from imported raw materials which are subject to the same influences – and therefore our cost prices in £ are in many cases (at the point of writing) 20% or more higher than they were at the end of last year.
Obviously we will have to pass on much of this cost to you, our customers. We appreciate that many of you are already anticipating a poor second half of the year as a result of the economic turmoil and this is the last news you need at present. We are currently negotiating with all our major suppliers to reduce our cost prices wherever we can, and have made some cost savings and streamlined some of our processes, and therefore we will minimise the increases wherever possible. Fortunately we do also hold substantial stocks of some products so we will be able to delay increases for some months in a number of cases.
We will introduce these increases only when strictly necessary and because of the size of our range this will mean that you will see increases in some of the products you purchase appearing week by week over the coming months and we will not be able to publish a newsletter every time we change a price, so we would ask you to take careful note of our website where the pricing will be maintained accurately and you will always be invoiced the price shown on the site at the point at which you place your order! Obviously we will keep a close eye on the situation and if sterling recovers we will reduce prices accordingly.
With Christmas coming we are conscious that many of you will be preparing catalogues, website specials etc. If you have a particular product that you anticipate needing in substantial quantities for Christmas we would urge you to contact us as soon as possible and we will do our best to fix a price – even if you don’t need delivery till October/November.