Spa Parts price update
After careful consideration and analysis of business costs and cost of goods sold; we will be implementing a lineal price increase across our product portfolio.
Since the last time we updated our pricing we have seen USD gain significant strength against both GBP and EUR. In addition GBP has fallen drastically vs all currencies.
We have endured exchange rate losses of:
- GBP vs USD -14%
- EUR vs USD -8.5%
In this same period, some of our suppliers have imposed price increases of 5% or more to tackle their own rising costs. One of these being Balboa Water Group (one of our largest vendors). This then presents to us a double hit if we do not react.
The costs of our business continue to rise due to staff remuneration expectations with cost of living, cost of energy and materials.
We estimate that a true reflection would be to increase our prices close to 10%. However we have taken the decision to try and absorb as much as we can and streamline our costs wherever possible. This means our actual increase to our customers will be between 5 and 6% effective from October 1st 2022.