ATLANTA — Holiday shoppers looking for must-have toys this year are likely to face higher prices, with toy costs increasing by 4% compared to last year.
Stephen P. Chininis, a professor at Georgia Tech, said this increase is due to a variety economic factors, including rising shipping fees and tariffs.
Chininis told Channel 2’s Linda Stouffer that toy shipping costs have surged dramatically, rising from about $2,500 per container to approximately $20,000, a more than 12-times increase in cost.
Retailers are pressured to manage these costs while grappling with supply issues for popular items.
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Retail demand for certain toys, such as the Rainbow DJ and Emerald City LEGO set, remains high, leading to tight supplies.
Some popular items are listed well above their original price, with third-party sellers posting prices over $115 for toys typically sold for much less.
The Better Business Bureau warns consumers to be aware of counterfeit products during this shopping season.
As more shoppers turn to online platforms, they risk encountering scams, particularly through social media, where scammers track consumer interests and behaviors.
Shoppers are advised to remain flexible and explore alternatives when searching for gifts.
Experts also suggested getting creative when it comes to gift-giving as a way to enhance the holiday experience without breaking the bank.
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