Price hikes are here again...

As we entered 2022, rising raw material prices and supply chain pressures remained unresolved, and lighting companies both domestically and internationally continued to raise prices.

Acuity Brands has recently issued another price increase notice to customers, stating that many industries continue to be affected by rising costs and global supply chain challenges. The costs of raw materials and freight for many of the company's products continue to rise, and it faces other inflationary pressures.

Therefore, the company has decided that, effective February 7, 2022, prices for most products will generally increase, with specific price adjustments varying by product series.

It is also reported that Signify (China) Investment Co., Ltd. recently issued a price adjustment notice to dealers, stating that as the global COVID-19 pandemic continues, prices of various raw materials continue to rise and supply remains tight, significantly impacting the company's products. Therefore, the company has decided to increase the purchase prices for dealers on certain traditional and LED product series effective January 18, 2022, and recommends adjusting the suggested retail prices for these product series.

In addition, Bull Group recently issued a "Notice on Price Adjustments for Certain Series of Wall Switches" to its dealers. The notice stated that due to the continuous rise in raw material prices and increased labor costs, Bull Group has decided to adjust prices for certain series.

Bull's price adjustment will take effect on January 7, 2022. The cutoff time for orders at the original prices is 12:00 on January 6, 2022 (orders and payments must be received by then). The price adjustment applies nationwide, including e-commerce channels.

In the lighting industry, price increases have become a common phenomenon, and this trend is expected to continue in 2022.

For example, earlier this year, Cidun Lighting issued a notice indicating that lighting product prices would be adjusted effective January 1, 2022, with an overall increase of 3-5%. Among them, commercial lighting products, home decoration products, and industrial and public construction products all saw increases of approximately 3-5%.

Simon Electric also stated that, effective January 1, 2022, ERP prices for most products will increase by 5%-10%, and the 2% annual rebate for the DO channel will be cancelled.

Siemens also adjusted prices for 24 product series, including VDI box, Zhiyi, Lingyun, General, Damped Floor Socket, Haorui, Floor Socket, and Zhiqi, on January 1, 2022, with an increase of approximately 3%-5%.