Latest news with #ToyAssociation
Qatar Tribune
2 days ago
- Business
- Qatar Tribune
How tariffs are shaping US year-end holiday shopping season
Agencies With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. But President Donald Trump's vacillating trade policies, part of his effort to revive the nation's diminished manufacturing base and to reduce the U.S. deficit in exported goods, have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff — import tax — rates the president sets, postpones and revises. 'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not.' Months of confusion over which foreign countries' products may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations. The consequences for consumers? Stores may not have the specific gift items customers want come November and December. Some retail suppliers and buyers scaled back their holiday lines rather than risking a hefty tax bill or expensive imports going unsold. Businesses still are setting prices but say shoppers can expect many things to cost more, though by how much depends partly on whether Trump's latest round of 'reciprocal' tariffs kicks in next month. The lack of clarity has been especially disruptive for the U.S. toy industry, which sources nearly 80% of its products from China. American toy makers usually ramp up production in April, a process delayed until late May this year after the president put a 145% tariff on Chinese goods, according to Greg Ahearn, president and CEO of the Toy Association, an industry trade group. The U.S. tariff rate may have dropped significantly from its spring high — a truce in the U.S.-China trade war is set to expire on Aug. 12 — but continues to shape the forthcoming holiday period. Manufacturing activity is way down from a year ago for small- and medium-sized U.S. toy companies, Ahearn said. The late start to factory work in China means holiday toys are only now arriving at U.S. warehouses, industry experts said. A big unknown is whether tariffs will keep stores from replenishing supplies of any breakout hit toys that emerge in September, said James Zahn, editor-in-chief of the trade publication Toy Book. In the retail world, planning for Christmas in July usually involves mapping out seasonal marketing and promotion strategies. Dean Smith, who co-owns independent toy stores JaZams in Princeton, New Jersey, and Lahaska, Pennsylvania, said he recently spent an hour and a half running through pricing scenarios with a Canadian distributor because the wholesale cost of some products increased by 20%. Increasing his own prices that much might turn off customers, Smith said, so he explored ways to 'maintain a reasonable margin without raising prices beyond what consumers would accept.' He ordered a lower cost Crazy Forts building set so he would have the toy on hand and left out the kids' edition of the Anomia card game because he didn't think customers would pay what he would have to charge. 'In the end, I had to eliminate half of the products that I normally buy,' Smith said. Hilary Key, owner of The Toy Chest in Nashville, Indiana, said she tries to get new games and toys in early most years to see which ones she should stock up on for the winter holidays. This year, she abandoned her product testing for fear any delayed orders would incur high import taxes. Meanwhile, vendors of toys made in China and elsewhere bombarded Key with price increase notices. For example, Schylling, which makes Needoh, Care Bear collectibles and modern versions of nostalgic toys like My Little Pony, increased prices on orders by 20%, according to Key. All the price hikes are subject to change if the tariff situation changes again. Key worries her store won't have as compelling a product assortment as she prides herself on carrying. 'My concern is not that I'll have nothing, because I can bring in more books. I can bring in more gifts, or I can bring in just things that are manufactured in other places,' she said. 'But that doesn't mean I'm going to have the best stock for every developmental age, for every special need.' The retail industry may have to keep taking a whack-a-mole approach to navigating the White House's latest tariff ultimatums and temporary reprieves. Last week, the president again reset the rates on imports from Brazil, the European Union, Mexico, and other major trading partners but said they would not take effect until Aug. 1. The brief pause should extend the window importers have to bring in seasonal merchandise at the current baseline tariff of 10%. The Port of Los Angeles had the busiest June in its 117-year history after companies raced to secure holiday shipments, and July imports look strong so far.
Los Angeles Times
4 days ago
- Business
- Los Angeles Times
Tariffs leading to less selection, higher prices for holiday shopping
With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. But President Donald Trump's vacillating trade policies, part of his effort to revive the nation's diminished manufacturing base and to reduce the U.S. deficit in exported goods, have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff — import tax — rates the president sets, postpones and revises. 'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not.' Months of confusion over which foreign countries' products may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations. The consequences for consumers? Stores may not have the specific gift items customers want come November and December. Some retail suppliers and buyers scaled back their holiday lines rather than risking a hefty tax bill or expensive imports going unsold. Businesses still are setting prices but say shoppers can expect many things to cost more, though by how much depends partly on whether Trump's latest round of 'reciprocal' tariffs kicks in next month. The lack of clarity has been especially disruptive for the U.S. toy industry, which sources nearly 80% of its products from China. American toy makers usually ramp up production in April, a process delayed until late May this year after the president put a 145% tariff on Chinese goods, according to Greg Ahearn, president and CEO of the Toy Association, an industry trade group. The late start to factory work in China means holiday toys are only now arriving at U.S. warehouses, industry experts said. A big unknown is whether tariffs will keep stores from replenishing supplies of any breakout hit toys that emerge in September, said James Zahn, editor-in-chief of the trade publication Toy Book. In the retail world, planning for Christmas in July usually involves mapping out seasonal marketing and promotion strategies. Dean Smith, who co-owns independent toy stores JaZams in Princeton, New Jersey, and Lahaska, Pennsylvania, said he recently spent an hour and a half running through pricing scenarios with a Canadian distributor because the wholesale cost of some products increased by 20%. Increasing his own prices that much might turn off customers, Smith said, so he explored ways to 'maintain a reasonable margin without raising prices beyond what consumers would accept.' He ordered a lower cost Crazy Forts building set so he would have the toy on hand and left out the kids' edition of the Anomia card game because he didn't think customers would pay what he would have to charge. 'In the end, I had to eliminate half of the products that I normally buy,' Smith said. Hilary Key, owner of The Toy Chest in Nashville, Indiana, said she tries to get new games and toys in early most years to see which ones she should stock up on for the winter holidays. This year, she abandoned her product testing for fear any delayed orders would incur high import taxes. Meanwhile, vendors of toys made in China and elsewhere bombarded Key with price increase notices. For example, Schylling, which makes Needoh, Care Bear collectibles and modern versions of nostalgic toys like My Little Pony, increased prices on orders by 20%, according to Key. All the price hikes are subject to change if the tariff situation changes again. Key worries her store won't have as compelling a product assortment as she prides herself on carrying. The retail industry may have to keep taking a whack-a-mole approach to navigating the White House's latest tariff ultimatums and temporary reprieves. Last week, the president again reset the rates on imports from Brazil, the European Union, Mexico, and other major trading partners but said they would not take effect until Aug. 1. The brief pause should extend the window importers have to bring in seasonal merchandise at the current baseline tariff of 10%. The Port of Los Angeles had the busiest June in its 117-year history after companies raced to secure holiday shipments, and July imports look strong so far, according to Gene Seroka, the port's executive director. 'In my view, we're seeing a peak season push right now to bring in goods ahead of potentially higher tariffs later this summer,' Seroka said Monday. Smith, who co-owns the two JaZams stores with his partner, Joanne Farrugia, said they started placing holiday orders two months earlier than usual for 'certain items that we felt were essential for us to have at particular pricing.' They doubled their warehouse space to store the stockpile. But some shoppers are trying to get ahead of higher prices just like businesses are, he said. He's noticed customers snapping up items that will likely be popular during the holidays, like Jellycat plush toys and large stuffed unicorns and dogs. Any sales are welcome, but Smith and Farrugia are wary of having to restock at a higher cost. 'We're just trying to be as friendly as we can to the consumer and still have a product portfolio or profile that is gonna meet the needs of all of our various customers, which is getting more and more challenging by the day,' Smith said. D'Innocenzio and Anderson write for the Associated Press.
Edmonton Journal
4 days ago
- Business
- Edmonton Journal
Toymakers, retailers brace for holiday shopping season disrupted by U.S. tariffs
With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. Article content But President Donald Trump's vacillating trade policies, part of his effort to revive the nation's diminished manufacturing base and to reduce the U.S. deficit in exported goods, have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogues because the featured products keep changing with the tariff — import tax — rates the president sets, postpones and revises. Article content Article content 'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalogue or not.' Article content Months of confusion over which foreign countries' products may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations. Article content Article content The consequences for consumers? Stores may not have the specific gift items customers want come November and December. Some retail suppliers and buyers scaled back their holiday lines rather than risking a hefty tax bill or expensive imports going unsold. Businesses still are setting prices but say shoppers can expect many things to cost more, though by how much depends partly on whether Trump's latest round of 'reciprocal' tariffs kicks in next month. Article content Article content The lack of clarity has been especially disruptive for the U.S. toy industry, which sources nearly 80 per cent of its products from China. American toy makers usually ramp up production in April, a process delayed until late May this year after the president put a 145 per cent tariff on Chinese goods, according to Greg Ahearn, president and CEO of the Toy Association, an industry trade group. Article content Article content The U.S. tariff rate may have dropped significantly from its spring high — a truce in the U.S.-China trade war is set to expire on Aug. 12 — but continues to shape the forthcoming holiday period. Manufacturing activity is way down from a year ago for small- and medium-sized U.S. toy companies, Ahearn said. Article content The late start to factory work in China means holiday toys are only now arriving at U.S. warehouses, industry experts said. A big unknown is whether tariffs will keep stores from replenishing supplies of any breakout hit toys that emerge in September, said James Zahn, editor-in-chief of the trade publication Toy Book.
4 days ago
- Business
Less selection, higher prices: How tariffs are shaping the holiday shopping season
NEW YORK -- With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. But President Donald Trump's vacillating trade policies have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff rates the president sets, postpones and revises. 'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not." Months of confusion over which foreign countries' goods may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations. The consequences for consumers? Stores may not have the specific gift items customers want come November and December. Some retail suppliers and buyers scaled back their holiday lines rather than risking a hefty tax bill or expensive imports going unsold. Businesses still are setting prices but say shoppers can expect many things to cost more, though by how much depends partly on whether Trump's latest round of 'reciprocal' tariffs kicks in next month. The lack of clarity has been especially disruptive for the U.S. toy industry, which sources nearly 80% of its products from China. American toy makers usually ramp up production in April, a process delayed until late May this year after the president put a 145% tariff on Chinese goods, according to Greg Ahearn, president and CEO of the Toy Association, an industry trade group. The U.S. tariff rate may have dropped significantly from its spring high — a truce in the U.S.-China trade war is set to expire on Aug. 12 — but continues to shape the forthcoming holiday period. Manufacturing activity is way down from a year ago for small- and medium-sized U.S. toy companies, Ahearn said. The late start to factory work in China means holiday toys are only now arriving at U.S. warehouses, industry experts said. A big unknown is whether tariffs will keep stores from replenishing supplies of any breakout hit toys that emerge in September, said James Zahn, editor-in-chief of the trade publication Toy Book. In the retail world, planning for Christmas in July usually involves mapping out seasonal marketing and promotion strategies. Dean Smith, who co-owns independent toy stores JaZams in Princeton, New Jersey, and Lahaska, Pennsylvania, said he recently spent an hour and a half running through pricing scenarios with a Canadian distributor because the wholesale cost of some products increased by 20%. Increasing his own prices that much might turn off customers, Smith said, so he explored ways to "maintain a reasonable margin without raising prices beyond what consumers would accept.' He ordered a lower cost Crazy Forts building set so he would have the toy on hand and left out the kids' edition of the Anomia card game because he didn't think customers would pay what he would have to charge. 'In the end, I had to eliminate half of the products that I normally buy,' Smith said. Hilary Key, owner of The Toy Chest in Nashville, Indiana, said she tries to get new games and toys in early most years to see which ones she should stock up on for the winter holidays. This year, she abandoned her product testing for fear any delayed orders would incur high import taxes. Meanwhile, vendors of toys made in China and elsewhere bombarded Key with price increase notices. For example, Schylling, which makes Needoh, Care Bear collectibles and modern versions of nostalgic toys like My Little Pony, increased prices on orders by 20%, according to Key. All the price hikes are subject to change if the tariff situation changes again. Key worries her store won't have as compelling a product assortment as she prides herself on carrying. 'My concern is not that I'll have nothing, because I can bring in more books. I can bring in more gifts, or I can bring in just things that are manufactured in other places,' she said. 'But that doesn't mean I'm going to have the best stock for every developmental age, for every special need." The retail industry may have to keep taking a whack-a-mole approach to navigating the White House's latest tariff ultimatums and temporary reprieves. Last week, the president again reset the rates on imports from Brazil, the European Union, Mexico, and other major trading partners but said they would not take effect until Aug. 1. The brief pause should extend the window importers have to bring in seasonal merchandise at the current baseline tariff of 10%. The Port of Los Angeles had the busiest June in its 117-year history after companies raced to secure holiday shipments, and July imports look strong so far, according to Gene Seroka, the port's executive director. 'In my view, we're seeing a peak season push right now to bring in goods ahead of potentially higher tariffs later this summer," Seroka said Monday. The pace of port activity so far this year reflects a 'tariff whipsaw effect' — imports slowing when tariffs kick in and rebounding when they're paused, he said. 'For us consumers, lower inventory levels, fewer selections and higher prices are likely as we head into the holidays.' Smith, who co-owns the two JaZams stores with his partner, Joanne Farrugia, said they started placing holiday orders two months earlier than usual for 'certain items that we felt were essential for us to have at particular pricing.' They doubled their warehouse space to store the stockpile. But some shoppers are trying to get ahead of higher prices just like businesses are, he said. He's noticed customers snapping up items that will likely be popular during the holidays, like Jellycat plush toys and large stuffed unicorns and dogs. Any sales are welcome, but Smith and Farrugia are wary of having to restock at a higher cost. 'We're just trying to be as friendly as we can to the consumer and still have a product portfolio or profile that is gonna meet the needs of all of our various customers, which is getting more and more challenging by the day,' Smith said. Balsam Brands' Harman said he's had to resign himself to not having as robust a selection of ornaments and frosted trees to sell as in years' past. Soon, it will be too late to import meaningful additions to his range of products. 'Our purpose as a company is to create joy together, and we're going to do our very best to do that this year," Harman said. 'We're just not going to have a bunch of the items that consumers want this year, and that's not a position we want to be in."
Yahoo
06-07-2025
- Business
- Yahoo
7 Kid Items To Stock Up on Before Tariff-Induced Shortages
If you've been following the news in recent months, you've probably heard a lot about higher tariffs being imposed on imported goods — especially those from Mexico, China and Canada. As a parent, you may also be wondering which kids items to stock up on before the stores run out. We're a Family of 5 Living on One Salary: Check Out: While you should only ever buy what you need, some experts believe it might be wise to make some purchases now — just in case those items disappear or skyrocket in price. Many kids toys (approximately 85% of those sold in the U.S., according to the Toy Association) are manufactured in China — one of the countries that'd be hit hardest by rising tariffs. Aaron Razon, personal finance expert at Couponsnake, said toys made in China are most likely to be in short supply due to proposed tariffs. This includes things like action figures, LEGO sets and Barbie dolls. These toys could also become more expensive — if you're even likely to find them on the shelves. Explore More: There could be a scarcity in kids' clothes, too, especially with back-to-school shopping. Razon said that coats, boots and other seasonal accessories could be harder to find. The same could be said for accessories like socks and underwear. But don't stock up out of fear. Only buy the things you already need for your kids. If consumers start to panic buy, retailers could potentially increase their prices accordingly. Some, especially online retailers, might also place limits on how much shoppers can purchase. Along those same lines, consider buying footwear — like athletic shoes or sandals — for your kids. Just don't go overboard with it. 'I think stocking up on these items could backfire on parents if everyone starts buying in bulk in anticipation of a shortage,' said Razon. 'I mean, apart from the fact that this could lead to a surge in demand, and potentially exacerbate the very shortage they are trying to prepare for, there is also the fact that it could lead to wasted resources.' Are you in the market for a new gaming console for your kids? You might only need the one console, but now could be a good time to buy. 'Tariffs affect kids and youth particularly hard since most toys, electronics and clothing are manufactured overseas, including gaming consoles,' said Liam Hunt, Director of Research at That's because many of these items are made in China and Southeast Asia. Gaming consoles aren't the only thing to consider buying. A lot of tech and accessories imported from abroad could become more expensive or see limited stock. Hunt suggested shopping early if you're looking for holiday gifts since prices will likely increase. Supply also tends to drop around these busier times. Tariffs have a trickle-down effect on both prices and availability. Things like bikes, scooters and backyard playground equipment could be in short supply due to tariffs. So, if you're in the market for any of these things, now might be the time to buy. 'It would be wise for parents to stock up on big-ticket items,' said Hunt. 'But avoid hoarding everyday items.' Do you have a little one on the way? Or are you already a proud parent (or grandparent, or aunt or uncle)? If so, you might want to grab essential baby gear like strollers or high chairs now. Razon said the availability of these items could also be impacted by tariffs. More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on 7 Kid Items To Stock Up on Before Tariff-Induced Shortages
