Retailers set to lift prices as shipping costs soar

Original article by Sue Mitchell
The Australian Financial Review – Page: 11 & 14 : 7-Apr-21

Australian retailers note that shipping costs have tripled in the last 12-15 months, and they will inevitably have to pass some of these costs on to consumers. The cost of shipping goods from China has surged since the onset of the COVID-19 pandemic, while The Reject Shop’s CEO Andre Reich says spot shipping rates have blown out to about $2,500; this compares with $US450 to $US500 for contracted rates. Some retailers have indicated that they intend to absorb the increased freight costs.

CORPORATES
THE REJECT SHOP LIMITED – ASX TRS

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