In alignment with Novapro Sports working to be a transparent and honest company for our community, we wish to provide some updates on what is happening to our business and how Covid has impacted us.
Our products received a small price revision on 16th November 2020 due to prolonged pricing hike and pressure from our suppliers, logistics supply chain and currency fluctuations which had been ongoing for the past 1 year. Our freight and couriers themselves have hiked prices over the year on context of fuel prices and Covid itself while we did not pass these on to our customers.
Our price revisions are not only upward revisions - but on a celebratory side, also downwards! also downwards. We were able to greatly reduce prices for most of our accessories and gear from storage optimisation, although some tents had a small upward price revision.
However, we have done our market checks and against competitor tents and believe we are still strongly standing ground on providing our customers the best value for money tents in the ultralight sector. This is to ensure that our customers can rest assure that they are still getting great value for the tent quality you would get elsewhere. This is also fulfilling Novapro Sport’s mission for providing great value for money quality tents to our community instead of overinflated priced tents as we continue listening to our customer’s feedback on our products, quality, pricing and service.
There seem to also be a trend we have observed that our suppliers are releasing upgraded versions of the products with big price hikes every 6 months to a year and discontinuing older models. There are both sides to this - love the new features with the higher price - or not - the team at Novapro Sports is divided over this but does not have much control over it.
Over the last year, Novapro Sports have been taking in the supplier price hikes and currency fluctuations without increasing prices to our customers - because we do not endorse or like price hikes! However, with the recent business landscape greatly affected with Covid-19 and business lockdowns on a worldwide impact, the supply chain pressure and Covid has affected business operations heavily and we are buckling under the pressure. Sadly, we had to do a small revision the prices in order to keep the business ongoing so that we can continue providing our local great product and service to our customers. Looking on a long term view, we are still hoping that once the storm settles we can renegotiate with suppliers on the pricing or reduce prices once again according to the market changes. However, this could be a two year plan, and also provided suppliers can negotiate.
We were and still are looking at a Black Friday sale - unfortunately, Covid-19 and other problems such as strikes have created another problem on the logistic side causing very bad Port Congestions. Our shipments of Black Friday tents and products have been greatly delayed and will not arrive in time. Our tents may unfortunately sell out before Black Friday, but our team will do our best to offer sale to our other items and remaining tents as much as we are able to. Our stocks may not be able to come into Port until after Christmas we were told.
We are hoping that we will be back with sufficient stock levels and running at more normality by Jan 2021 next year.
We thank you for your support and patience to ride with us through these tough times and keep us going. We believe we will be able to better manage inventory and cashflow with the support of our customers next year 2021 with changes being made to adjust to Covid, lockdown and supply chain delays ongoing now at the back end. We know and remember that our customers are out there with our tents or waiting for our tents and this drives us to continue improving our range of products, stocks, operations and prices for you.
We can't stress enough that we are grateful for your support and understanding and thank you again for supporting local businesses.