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Tags: fireworks | inflation | fourth of july | consumer prices

Report: Consumers Could Pay 30 Percent More for Fourth of July Fireworks This Year

Report: Consumers Could Pay 30 Percent More for Fourth of July Fireworks This Year
Fireworks are for sale in Stevensville, Maryland, on June 29, 2021, ahead of Independence Day. (Jim Watson/AFP via Getty Images)

By    |   Wednesday, 15 June 2022 06:03 PM EDT

Fireworks apparently aren't immune to product supply shortages or 40-year inflation highs in the United States.

According to an Axios report, consumers should expect a substantial cost hike when purchasing Fourth of July fireworks this summer — upwards of 30%, compared to 2021.

What's to account for the higher prices for fireworks?

  • According to the American Pyrotechnics Association, since 2019, fireworks shipping costs have increased from $8,000 to $10,000 per shipping container to approximately $45,000 per container.
  • According to Julie Heckman, the APA's executive director, there's been an "unprecedented demand" for backyard fireworks since 2020, when many cities and towns first canceled professional shows, due to the COVID-19 pandemic.
  • Bruce Zoldan, CEO of Ohio-based Phantom Fireworks, the country's largest consumer-based fireworks retailer, says his company has sold out of fireworks the last two years because of "extreme shortages." As such, Zoldan speculates that price increases and rising inflation could impact sales for 2022.

"We have no idea how [consumers will] react based on all the other necessity items that they have to deal with like gas, food, and everything else that has gone up tremendously," Zoldan told Axios.

"Even in recession years, people buy fireworks, and we don't see as much negative buying as maybe other businesses because people want to get together."

Now for the encouraging news: Zoldan reports that, despite the logistical shipping delays and increased costs, fireworks companies are dealing with more inventory than the previous two years.

The product choices just might come at a higher price tag.

Within that rationale, Heckman believes most families will budget for holiday fireworks this year. At the same time, they might also "get a little bit less bang for their buck."

Zoldan says the upcoming Father's Day weekend typically bolsters the fireworks sales season, which of course, peaks during Fourth of July week.

Citing an APA document, the total revenues for display fireworks reached $375 million in 2019, a $15 million increase from the previous year.

And for consumer fireworks, 2019 revenues topped $1 billion — a sizable uptick from $945 million from 2018.

Click here to peruse the fireworks laws in each state.

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Fireworks apparently aren't immune to product supply shortages or 40-year inflation highs in the United States.
fireworks, inflation, fourth of july, consumer prices
357
2022-03-15
Wednesday, 15 June 2022 06:03 PM
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