Dear Valued Intermatic Supporter,
The past two years have presented unprecedented challenges for businesses across the globe, including Intermatic. From plant closures and labor shortages due to quarantine restrictions in 2020 to the start of the recovery amid supply chain and resource constraints in 2021, we’ve continuously needed to adjust our business due to the COVID-19 pandemic.
However, our recovery efforts have exposed a new set of worldwide business challenges. The cost of raw materials, labor, freight, packaging, and related expenses are increasing at an alarming rate. Adding to this is pressure of a limited supply of essential technical components.
While Intermatic has taken steps to control costs and mitigate the product availability issues described above, internal margin pressures have been increasing exponentially each month. Intermatic continues to seek improvement in our cost position throughout alternate sourcing options, manufacturing cost reduction efforts, etc.; however, the current market conditions require us to take additional action.
Therefore, effective October 4, 2021, we will implement a weighted-average price increase of 8%. The specific percentage of the increase by product category or SKU will vary. Although we recognize that this implementation date may differ from the notification requirements of some accounts, it is imperative that we react to the cost increases affecting Intermatic in an immediate way. Any orders received on or after October 4th, 2021 which do not have the new pricing will be rejected.
Additionally, we will be introducing a new minimum requirement to our Prepaid Shipment Policy and Drop Ship Program in response to the dramatic increase in freight shipping costs.
New electronic price files will be available within the new few weeks and will detail specific price changes. Electra Products Agency is available to assist you with any questions you may have regarding this change in pricing.
These are very difficult times, but we can work together to get through them. We value your business and thank you for your continued support.