Greensboro, NC - Experts warn Christmas may be more expensive this year, not because of the United States' economy, but because of what's happening in China.
With Christmas still more than four months away and most families in back to school shopping mode, Christmas shopping is likely the last thing on anyones mind. However, retailers and experts alike warn it's something you may want to start thinking about now.
From toys to clothes and sporting goods, items that read "Made in China" line store shelves in the Triad, and the cost to make thost items is on the rise.
"The economy in China is booming. The housing market is going up like crazy," said Dr. Jin Byoungho Jin, Professor of Consumer, Apparel and Retail Studies at UNC Greensboro.
According to Jin, it's starting to cost more to live in China. Additionally, not as many people want to make toys and clothes like they did years ago.
"They are getting more education, which means that they don't want to work as a sewing girl. They want to find a better job," said Jin.
Hence, manufacturers in China have to pay bigger salaries. And that cost is passed on to consumers.
"We will see a price increase, definitely. But, it's not drastically double or triple like that, but you will sense that. You will sense that it's gradually increasing," said Jin.
Jin said her best advice for shoppers is to start your Christmas shopping early, compare prices and shipping costs.
According to Jin, the increasing production costs in China is forcing more manufacturers to move out of China and into other emerging markets like Bangladesh, Vietnam and Sri Lanka. She added that in about five years, you probably won't even see any "Made in China" tags on clothes and toys anymore.
Jin shared an important tip for parents. She said many other countries don't have the same hygiene rules in the work place as the United States. So, whether you're buying clothes or toys, make sure you thoroughly wash them before giving them to your kids.
WFMY News 2
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