(CBS) People shopping for fireworks should expect less bang for their buck this year. Inflation is hitting consumer fireworks just as it has many other products.
Phantom Fireworks is one of the largest retailers in the country. CEO Bruce Zoldan says, “We had to raise our prices.” Many of the products at Phantom Fireworks are from overseas and shipping costs have skyrocketed. “In 2019 we paid approximately $11,000 a container and this year we’re paying close to $40,000 a container,” Zoldan says.
Supply chain problems started during the pandemic. When public displays were cancelled millions of Americans bought their own fireworks for backyard celebrations. “People were staying home. The entertainment for the past two years has been consumer fireworks,” says Zoldan.
The higher demand let to shortages of certain fireworks at some retailers over the past couple of years.
Despite the higher prices, Zoldan says there is more inventory this year. So, while you may have to spend more, you should be able to find what you want.
Cynthia Alvarez went to the Phantom Fireworks store in Matamoras, Pennsylvania, and noticed the higher prices. She spent $1,300 dollars for a big family bash. “Two to three-hundred dollars more than what we spent last year or the previous years,” Alvarez says.
It’s not clear if higher prices will affect overall sales. Zoldan is hoping American’s desire to celebrate sparks another big year for business.