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Holiday profit overseas takes hit

11-24-2010 10:05 BJT

Christmas comes but once a year. For holiday vendors in New York, it's a time to cash in on good margins on products from China. But this year, they say their Christmas bonuses may take a hit as producers in the far east have had to raise their own wholesale prices.

Many New Yorkers visit Bryant Park in Manhattan for their holiday shopping. But most of the products there are from China.

One shop owner in New York said "Workforce is a lot more inexpensive than it is here, so it's a lot easier...the quality is very nice, and 90 percent of our ornaments are made in China."

As the US slowly recovers from the financial crisis, shoppers are willingly to spend more and more ornaments have been shipped from China. Usually, shop owners favor the discounts that overseas products offer. But this year, prices have increased thanks to the appreciating yuan and rising costs on the producer's end.

One shop owner in New York said "Unfortunately every year, the price is higher. It's getting higher and higher. And unfortunately as well, the fee... the shipping from far east is kind of increased every year, sometimes prohibitively, that does reflect retail end as well."

Despite the rising costs, many vendors have kept their prices unchanged to attract customers. But owners say they don't know how long the situation can be sustained.

Editor:Xiong Qu |Source: CNTV.CN

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