Price Increases

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Get Packed is continuing to be impacted by multiple price increases from suppliers as costs across the economy continue to go up. We even have some suppliers unable to provide current prices of goods (only on a “today the price is….”) as they simply can’t keep up with the changes.

Where are the price increases coming from?
Shipping costs are one of the primary causes (refer our article What is the issue with freight costs and delays) which have increased on average by 10% in the last 4 months alone. Oil prices – impacted by the Russia/Ukraine conflict. Add to that increase in resins (8.5%) and PET prices (7.5%), not to mention paper (5.2%) and nylon (4.2%). On top of that the AUD/US exchange rate has moved from USD$0.72 in March to the current rate of USD$0.68 – making everything more expensive again.

This constant bombardment affects us all and is not even slowly being passed down the chain as what was quarterly price adjustments have become monthly or sooner.

Get Packed has been absorbing quite a lot of the price increases – sometimes we simply literally can’t enter the changes on our system quickly enough – but inevitably we have no choice. Our hope is that in the future when prices re-stabilize, that a reduction in costs will mean we can reduce our prices back too.