Shops rush for Christmas stock as shipping costs surge

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.

Because they are planning ahead, he said he didn’t think Black Friday and Christmas stock would be affected.

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.”

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 (£3,500 to £5,900).

“This makes a massive impact on big bulky items, especially those that have low margins such as furniture, barbecues, and kitchen appliances,” he said.

There was “no way” most online retailers could absorb those price increases on big-ticket items, he said.

“So unfortunately for consumers, the next few months will see significant rises on these big-ticket items,” he added.