According to the report, hundreds of products are currently out of stock or in short supply all over the world, while product prices are rising at the same time.
In its report, DJ Tech Tools discovered that both the cost of components used to manufacture equipment and the cost of labor have increased. The company stated that “across the world, these two cost increases are having significant effects on physical goods manufacturing.”
“There are a variety of factors contributing to the rise in labor costs” (an ongoing pandemic, a labour shortage, local lockdowns, and many more). As labor costs rise, those increases can have a knock-on effect on component costs.”
Additionally, higher shipping costs for both “ocean freight” and “air freight” postage have discouraged many companies from importing components to build products, and “overbooked” and congested ports have resulted in products arriving months late.
Following a nearly two-year hiatus, live events have returned to the global stage, adding to the list of factors contributing to low supply and high demand.
DJ Tech Tools asserted that, despite the fact that there are fewer events taking place and a lower demand for supply than in previous years, the purchase of equipment “drives a significant amount of revenue throughout our industry.”
“Events are absolutely not back to 100 percent of what they were prior to the pandemic, and this has resulted in more cautious purchasing by companies throughout the industry,” the authors wrote in their report.
The report also noted that Pioneer DJ has recently increased the prices of its production equipment by approximately 2-4 percent, while also increasing lead times on most of their equipment, resulting in some items not being available for purchase for several weeks or months.
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