Setting yourself up with all the latest DJ equipment and gear can be seriously inspiring. Both for new and established DJs alike, nothing will get your creative juices flowing like a new gadget.
You may have noticed as of late that DJ gear, in general, is getting more expensive; some retailers are still selling things for way less than others, but hardware on the whole is going up in price.
Why Are Prices Increasing Now?
Logically, you would think that post-pandemic prices would actually be lower. People have not been spending a great deal over the past 18 months and retailers are desperate to move merchandise. In which case, this would seem to add up to a market where prices should be going down.
In reality, they are heading in the exact opposite direction. Far from a ploy on the part of retailers to make more money, it is actually down to supply chain complications and scarceness of materials.
Component Costs on the Up
For example, the costs of certain materials that form the core of electronic devices are skyrocketing. One of which is copper, which plays an essential role in practically every electronic product on the market.
Copper prices have shot up around 100% over the past 12 months, making it more expensive to manufacture components for DJ devices.
Global shipping and land transportation also took a major knock over the course of the pandemic. The resulting bottleneck has created a backlog that is expected to continue for some time. In a nutshell, things have not been getting where they need to be in time. There are some factories in Europe that have temporarily laid off entire workforces due to shipments of microchips not having arrived from China on time.
When businesses face this kind of turbulence, the prices and whatever it is they sell inevitably increase.
There are growing shortages in the availability of essential semiconductors compounding the issue. Semiconductor manufacturers will always favor the highest bidder when deciding who to sell their products to. Smartphones and consumer technology, in general, tend to be the priority for high-end semiconductor producers.
Where shortages occur, it is the more ‘niche’ sectors like DJ hardware that bear the brunt. Fewer devices are produced and availability scarce, ultimately driving prices higher.
Affordable DJ Finance
With all of the above set to continue for some time, affordable DJ finance is providing a welcome lifeline for many. With 0% deposit repayment plans available, spreading the costs of hardware purchases can be made affordable for most budgets.
For more information on DJ finance or to discuss your DJ hardware requirements in more detail, contact a member of the team at DJkit today.