Pricing: What To Expect For 2021
Everyone is excited for 2020 to be over and done with, but before you dismiss 2020 there are a couple of important topics that we need to discuss prior to the new year
Since the whole pandemic and global shutdown that occurred back in March, we noticed many factors that would cause retail prices to rise throughout the year but more so in 2021
Today we are briefly going to cover what to expect for 2021
Lets chat
Contributions to pricing increases
Prices go up, prices go down, its natural.. but there are many reasons that cause prices to go in both directions, so what could it be?
Here are some of the key factors we believe that will cause prices to rise throughout 2021
- High demand in parts
- Low supply in parts
- Shipping expenses
- Shutdowns
- Gas price increase
- Elections
- Economy
- Brexit
- COVID
- etc..
How it started
Back in April when toilet paper was a rarity, parts where flying off the shelves, left and right, there was little supply to keep up with the artificial demand that was created from the shutdowns
Everyone was either out of work or laid off which caused a massive vacuum of orders due to the free time that most folks had
Early on our fear was that our manufacturers and vendors would simply run out of stock on key items
Manufactures could not keep up with the supply, simply because the "high" demand was never there to begin with prior to the pandemic
Fortunately, that didn’t happen, however, delays in the supply chain where prominent and we knew pricing was on the rise...
Pricing Increase
A few customers asked me last month if we would notice a price increase due to the nature of the world we are currently living in
In short, the answer is yes; there will be a price increase on many of the parts across the site, however we cannot state which parts will be increasing nor can we comment on if pricing will go back to "normal"
On some parts we are currently seeing a pricing increase from 3%-15%
Just the other day when inventory was being logged, I saw the cost of one specific part rise close to 30% as compared to mid-2020
I honestly do not enjoy raising prices but I feel that everyone needs to be aware of what is currently taking place in the industry as it unfolds
To be clear, for those that are concerned, not all pricing on parts will be going up - in fact, many parts will stay close to the same while some others may not; be prepared
Moving forward
As invoices and orders arrive here at CBS, we will be taking the new pricing into consideration and updating the website accordingly
For 2021 we will still be continuing our "free shipping" policy (lower 48) should you be rebuilding or restoring a vintage British motorcycle
We are always looking at different angles and view points to keep British motorcycle parts affordable and available
Lets just hope that 2021 proves to be a more prosperous and positive + year for everyone
Thanks for reading
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Ride safe!
David Patterson
There’s also the currency exchange rate. I get daily updates, and the Pound is going up.
As for the shipping cost, I have always gotten reasonable rates when buying from England. Perhaps the UK imposes import duties which the US does not?
Classic British Spares
@James – thanks for reading today. Understood! However, I have no control over what UPS and DHL charge for shipping and what your country charges you in regards to customs fee’s. Happy New Year
Mr James samme
Problem for me is your high shipping rate to the UK. You are not alone in being too expensive on shipping, which prevents me from making a purchase. Perhaps in the future you could find a way forward.