Big Bad has a statement on how they will be handling the uncertainty of the new Tariffs situation. Please see below all information is taken from Big Bass site subject to change.
Hi everyone,
We created this page to share updates on how the rapidly changing tariff landscape is affecting our business, and what we are doing to manage the impact to you, our valued customers.
Over the past few months, we have witnessed a dramatic rise in tariffs on goods imported from countries such as China and Vietnam. Initially at 10%, the current tariff rate on imports from China has escalated to 145%. This situation is complex and fluid, and we want to be transparent with you about how it is affecting our pricing and business operations. We will share updates here to keep you informed.
Q: What are tariffs and how do they affect the toy business?
A: Tariffs are a tax on imported products. For 25 years, BigBadToyStore has operated as a family-owned business under a 0% tariff rate. In the last few months, tariffs were imposed on products imported from nearly every country. These tariff rates have been changing rapidly. Initially set at 10%, they have risen multiple times and are currently at 145% for Chinese goods. Vietnam will also be subject to a 46% tariff within 90 days. These two countries manufacture 90% of the goods that we sell.
Foreign governments do NOT pay these tariffs. The US based companies who import these goods are directly responsible for paying the tariffs. Some or all of these costs are then passed on to retailers. Ultimately, the US based consumer pays for the tariffs through higher product prices.
Q: How will these tariffs affect product prices?
A: The tariffs apply to all products imported from affected countries. This includes virtually all new and open pre-orders. Products already in our inventory prior to the tariff (“in-stock”) are not affected, although any additional product we bring into our in-stock inventory could be.
Unfortunately, the magnitude of these tariffs are forcing us to increase retail prices on affected products. For new and open pre-orders, we expect prices to increase between 15% and 40%. We are working hard to minimize these increases through negotiation with vendors and optimizing our import processes.
Q: How will the tariffs affect pre-order release dates?
A: Due to the high tariff level and uncertainty around how long these tariffs will remain, many vendors are delaying production and/or shipments of pre-ordered items. BBTS is delaying imports in some cases until the tariff situation becomes more reasonable. For example, on BigBadWorkShop we are continuing various project design work and are in production on Season 02, but we are temporarily holding inventory overseas with the hope that the tariff situation will improve soon. We are also delaying imports of Storm Collectibles, to try to minimize the impact of tariffs on prices.
We recognize the impact that delays cause, and it is our ultimate goal to get items to our collectors as quickly as possible. This is a fluid situation, and we will do our best to communicate timing updates as we have them.
Q: When will price changes on pre-orders take effect, and how will they be communicated?
A: Because tariffs are changing so quickly, we have decided to list pre-orders at the non-tariff price with a note stating “Excludes Tariff Surcharge”. Once we receive the item and know the final tariff amount, a surcharge will be applied. Customers will be notified of the final price including tariff surcharge before their payment is processed and will have the opportunity to cancel their order at that time.
Here is an example of what the product listing will look like:
Shown under product images
Shown at bottom of product page
Q: Can I cancel my pre-order if I don’t want to pay the additional tariff?
A: Yes, customers have the option to cancel pre-orders if you choose not to proceed with the tariff surcharge. Customers will be notified of the final price including tariff surcharge before their payment is processed and will have the opportunity to cancel their order at that time. Customer Service will be happy to assist with refunding any deposits already paid upon request.
Q: If I have already paid for an item in my Pile of Loot, will I be charged an additional tariff?
A: No, we will never add an additional tariff surcharge to an item you have already paid for. When shipping items from the Pile of Loot, the standard shipping and sales tax (if applicable) will be collected at the time a shipment is created.
Q: Can items be held in the Pile of Loot for longer than 90 days in case the tariffs change again?
A: While we try to remain as accommodating as possible for our customers, we are unable to hold items in the Pile of Loot for longer than 90 days. We appreciate your understanding as we continue to receive new products daily and have limited space available in our warehouse.
Q: Will there be any additional tariff surcharges on in-stock items?
A: No. In-stock products will not have an additional tariff surcharge added to the price listed. In some cases, where there was a tariff surcharge on the item, it will be included in the price listed.
Q: What happens if tariffs are reduced or removed in the future?
A: If tariffs decrease or are eliminated, we will reduce or remove the tariff surcharges on impacted orders accordingly.
Our pledge to you is that we will be fair, and we will share the pain of this. Thank you for the trust and loyalty that you have placed in BBTS with your collecting passion.
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