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20 hours ago<\/time><\/p>\n\n
Deborah Weitzmann,<\/span>Business reporter<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n
Getty Images<\/span><\/div>\n<\/div>\n<\/figure>\n\n
European retailers are rushing to place their Christmas orders early as soaring shipping costs and trade route disruption threaten holiday deliveries, experts say.<\/p>\n
For the last few months, vessels belonging to Western firms have been attacked in the Red Sea by Houthi rebels backing Hamas in its war with Israel, driving shipping prices up.<\/p>\n
Container prices, which peaked in January and briefly declined, have rebounded sharply in recent weeks.<\/p>\n
One business told the BBC that increased costs were likely to feed through to the price of big-ticket items such as white goods.<\/p>\n<\/div>\n
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Nick Glynn, boss of the Buy It Direct group, owns several online retailers including Appliances Direct and Laptops Direct, which are having to plan and book well in advance to make sure their shipments arrive on time.<\/p>\n
Because they are planning ahead, he said he didn’t think Black Friday and Christmas stock would be affected.<\/p>\n
But he said: “It impacts cash and warehouse space as suddenly you have to store the goods for longer. You can’t risk ordering later.”<\/p>\n
Mr Glynn explained that the spot rate – the current price for immediate delivery of goods – has dramatically increased in recent weeks from $4,500 to $7,500 (\u00a33,500 to \u00a35,900).<\/p>\n
“This makes a massive impact on big bulky items, especially those that have low margins such as furniture, barbecues, and kitchen appliances,” he said.<\/p>\n
There was “no way” most online retailers could absorb those price increases on big-ticket items, he said.<\/p>\n
“So unfortunately for consumers, the next few months will see significant rises on these big-ticket items,” he added.<\/p>\n<\/div>\n