We’ve seen increases in every single material that goes into a candle - from 25% increases in the costs of glassware (even when ordering pallets) - to monthly increases of 10% on candle waxes.
Just this week, we were notified of a 15% increase in the price of one of the waxes we use. This time, due to the high oil prices pushing up the prices of petroleum jelly.
That’s not to mention energy price rises - we are after all melting wax at 60-80c everyday. For some manufacturers, the price to do this has increased by 8x (800%) in a year.
So what happens now?
Ultimately, although candles do have a great retail margin, manufacturing costs can’t be absorbed forever.
We expect to start seeing more and more candle brands raising prices by 5-10%, at least.
From feedback from clients who have already done this, the good news is that it looks like customers are willing to pay.
While candles are mostly a luxury item, in stressful times, they are also a source of comfort - and the demand isn't going anywhere.
