Hundreds of products are currently out of stock or in low supply across the world while product prices are rising, according to the report.
DJ Tech Tools found that both the cost of components to make equipment and the cost of labour has increased, stating: “Around the world, these two cost increases are having major impacts on physical goods manufacturing.
“There’s a lot of reasons why labour prices are increasing (an ongoing pandemic, a labour shortage, local lockdowns, and many more). As labour costs go up, those increases can also feedback into component costs.”
Additionally, higher costs of shipping with both “ocean and air freight” postage has driven many companies away from buying in components to create products, as well as “overbooked” and congested ports mean products can arrive months late.
With live events resuming globally after almost two years, this has also added to the list of reasons for low supplies and high demand.
DJ Tech Tools argued that even though there are fewer events happening with lower demand for supply than years prior, the buying of equipment “drives a lot of the revenue throughout our industry”.
“Events absolutely are not back at 100% of what they were pre-pandemic, and that has meant more careful purchasing by companies throughout the industry,” they reported.
The report also noted how Pioneer DJ has increased prices on the production gear by around 2-4% recently, while extending lead times on most of their equipment, meaning some won’t be back in stock for weeks or months.
[Via DJ Tech Tools]