Pricing Update

September 6, 2022

Dear Customers:

Rhode Island Novelty is happy to share some GOOD NEWS!

After see-sawing most of the summer, ocean freight costs are on a solid downward trend, and we expect this to continue through the fall. In August alone, we were able to reduce the pricing on over 300 items as we received them. The average case price decrease on those items was 6.5%. We will continue to review the landed costs on all items as we receive them.

Last December our average container cost from China was almost $20,000 with some containers being in the mid $20's, whereas this past August the container costs averaged just over $13,000 ($11k-$1Sk.) Although the current container cost is still significantly higher than our pre-Covid cost of+/- $3200, we are pleased with the trend.

Aside from the freight space and ocean freight cost challenges, production has been taxing since the pandemic. We are pleased to report that our factory partners have been operating near pre-Covid levels. We expect a continued push through Chinese New Year.

Rhode Island Novelty has and will strive to have the lowest case pricing in the markets that we serve. Please check out our web site for current availability and pricing.

Sincerely,
Rhode Island Novelty