Fidget spinner craze is experiencing an overwhelming demand that suppliers are finding it hard to cope with the effects .It’s no wonder some manufacturers of important accessories of the toys like ball bearings are charging exorbitant amounts so as to keep up with the demand.
Reports from The New York Times say that Asian companies are hiding ball bearings in anticipation of more price increase, while charging up to 50-200 above the normal prices. For instance, a Portland, Oregon based company was forced to bring lots of cash to china factories so as to have the orders considered.
Prime was the first company to commit to the spinners simply because of early planning. They were able to have many factories produce for them. Jeff Ledere, CEO of prime line says that their inventory gets replenished every moment and there are no stock outs, despite high rising demand every day. Jeff adds that they have heard stories of ball bearings shortages elsewhere but not in Prime.
In an interview with The New York Post, Zing stated that they had to hoard and buy bearings in bulk so as to deal with sudden change in bearings prices. Zing continues to say, “Factories would tell us that they don’t have bearings unless you want to pay more “.He says this forced them to change and come up with new tactics to survive the situation.
An online sports merchandiser by the name Fanatics, reported that they saw their sales increase rapidly up to 1000 percent with rise in demand for bearings. This was based on the fact that sports fans wanted to get their hand on with their favorite team logos.
Fanatic’s president of Merchandising Jack Boyle again reported to The New York Post that they can see the trend continuing through the holidays and back to school season.
As this situation persists, the suppliers and distributors of promotional materials for fidget spinners are supposed to take notice of the price hike and make right adjustments in their factories so as to ensure their products reach end users as expected.