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Business owners balance shipping costs, inflation as they prepare for the holiday season

Mount Equity Group Tokyo Japan > News > Business > Business owners balance shipping costs, inflation as they prepare for the holiday season

RALEIGH, N.C. (WTVD) — Business was bustling Friday afternoon inside Light Years, a jewelry store in the Village District.

“Our foot traffic has been really good here,” said owner Shannon Joyce, who took over the business at the beginning of April.

Joyce noted they’ve received some relief from falling overseas shipping prices. Data compiled by Statista found global container freight rates dropped more than 60% year-over-year, with Bloomberg Finance finding a 76% drop in the cost to ship a 40-foot container from Shanghai to Los Angeles.

“The savings will be passed on to the consumers, but it’s going to take some time. A recent statistic I saw is it takes something like six to nine months for companies like Costco or Target or Walmart who are importing lots and lots of merchandise to actually pass those costs on,” said Connel Fullenkamp, a professor of economics at Duke.

Fullenkamp zeroed in on two of the reasons why prices have fallen…

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