Some of the price increases have been the increase in the raw materials. Costs have gone up by approximately 10%.
Over the last year the price of shipping has increased dramatically. This has been for multiple reasons and all out of our control. The cost of the container has gone up from £1,800 to £15,200 in less than one year. This is a massive hike, but does not tell the whole story of why products are going up in price.
I am sure you will have heard about duty. It is a percentage of tax that is charged on products imported into a country. For unicycles this is 14%. So a unicycle that costs £100 will have £14 duty on it? Unfortunately, it is not that simple.
Duty is calculated on the price of the item + shipping costs. So the price of shipping has a disproportional cost on the final price. We have worked hard on keeping the costs down and reducing the effect on the final price. We have not passed on the full price increase to the customers, we have taken a 14% reduction on our margin’s speculating that the shipping costs will come down in the future.
I hope this helps you understand the unfortunate increase in our prices on our website.