Shipping Delays and Huge Increases in Freight Costs Will See Shortages – Lee Valley Tools CEO

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Thunder Bay – BUSINESS – The owner of Lee Valley Tools is advising customers that lead times for ordering some of the products that their business usually stocks are going to increase.

Lee says, “We are now seeing lead times for some products that exceed one year, if our order even gets accepted – and not all do. International shipping continues to be an issue, with unprecedented backlogs throughout the supply chain, and costs that are several times what they were pre-COVID.

“You can expect to see some supply shortages through the fall season and can count on many prices increasing. Most industries are also facing labor shortages (we’re hiring too!), and this will affect the ability to handle spikes in volume or deliver services on a timely basis.”

This is a common situation for a growing number of products at many other retail shops and businesses.

“To bring in a container from Asia that used to cost $7,000 now costs $34,000 unless you’re Home Depot and can afford to charter a ship,” Lee adds. “I don’t think the public understands how much of what they buy is comprised of freight.”

Some products have seen major price increases.

Lee is suggesting, Within the next few weeks, we will be releasing our Christmas catalog, which is uncomfortably early for us. Again this year, we are recommending that you shop as early as possible, as we will not have the opportunity to replenish inventory before Christmas. For those who shop in-store, we also recommend ordering online and picking up in-store – that way, you know the products you need are waiting for you, and it helps us ensure that we can serve you as quickly as possible, at the time of your choosing”.

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