Why Are HØJ’s Cannabis Accessories Prices Increasing? An Explanation For Our Community
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Time to read 4 min
When it comes to joining an amazing culture full of history, new experiences to discover, and infinite possibilities, few can beat the great cannabis community. Formed by decades of shared knowledge, affinities, and likes, weed enthusiasts are notorious for how welcoming they can be, always paying some mind to the enjoyment of their fellow stoners.
And since HØJ was built upon these values, always promising to bring the best in cannabis accessories and equipment so you can enjoy an optimal experience, today we want to keep the transparency and openness that has always characterized us.
Since we don’t want surprises among our loyal fanbase, we will need to be forthcoming with this: sadly, despite our best efforts, our prices will need to be raised starting on June 1st, 2023. We know that this might be disappointing to most of our customers, and although we guarantee that this is done to keep the quality and experience you expect from a brand such as HØJ, whose premium collections are still unmatched, we want to offer an explanation and some breakdowns of why this must be. Our fans and followers deserve it.
Table Of Contents
Raw materials costs: Aluminum & Magnets
Why are aluminum prices increasing?
First and foremost, the cost of raw materials and shipping is subject to regulation and influenced by various factors, and in the weed industry, this is no different. This is especially true when it comes to aluminum price, which is one of the primary materials in the HØJ collections. As you can see here, the price of this metal has been increasing steadily during the last four years, and since aluminum is critical for the design of our accessories, in particular to the magnetic mechanism of the KLIP grinder, we need to stick to it.
To illustrate this, according to this chart, the price of aluminum has gone up from $1,459.93 per our launch in April 2020 to $2,343.23 which is the current price. Sufficient to say, demand for this material is high with very little to go around (with Chinese inventories running dry, for example), meaning that this price is unlikely to go down anytime soon.
As you might imagine, this impact on the price of aluminum is felt in the inflation rate, which is why the price is going up in so many products and services. And since HØJ wants to bring our incredible collections to as many places as possible, shipping costs are also a factor in this increase, which are growing beyond our current prices. All in all, this has resulted in a decision made to ensure that the quality that HØJ offers is not impacted.
However, we have some good news!
How much do magnets cost?
The cost of magnets typically increases due to several factors. Above all, magnets are made from materials like neodymium, samarium, and cobalt, which are considered rare earth elements, and the availability and cost of these raw materials can fluctuate based on global supply and demand dynamics. Since the start of the COVID-19 pandemic, these rare elements have become harder to obtain, with neodymium increasing in price drastically, just in 2023 alone.
This has resulted in an all-time high cost of magnets that is difficult to circumvent, with the current price of neodymium at $139.60 per kg (at the time of this writing).
The cost of fuel in shipping prices
Why are gas & gasoline prices increasing?
The price of fuel (both oil and natural gas) has been increasing due to the recovery of demand following the COVID-19 pandemic, which has contributed to higher gas prices as economic activities restarted. Additionally, decisions made by OPEC+ regarding oil production levels have limited the available supply, exerting upward pressure on gas prices, and some geopolitical tensions and conflicts in major oil-producing regions (such as Russia and Ukraine) have disrupted production and transportation. In fact, oil has never stopped increasing its price per gallon in the last six years.
The interplay of these factors, combined with regional variations and the current inflation rate has resulted in the overall increase in fuel prices (and thus, shipping and transportation) that we need to take into account with our prices.
So, when are HØJ product prices increasing?
As we mentioned already, this increase in prices will not kick in until June 1st, 2023, so if you were looking for an excuse to pull the trigger on some of the most amazing pipes, and grinder you will ever have, now it’s your chance, as our current prices and shipping price will maintain until then. So, We encourage you to stock up on your favorite HØJ products before the price increase takes effect. Your cannabis sessions, after all, deserve the best!
To close this announcement, we’d like to leave a little FAQs, to sum up and say that we are happy to have such a passionate community and that everything we do is to ensure you have the best time enjoying cannabis just the way you want to.
Thanks, and let’s have a nice time!
FAQs
At HØJ, our mission has always been to provide exceptional luxury cannabis accessories at competitive prices. However, we've experienced significant increases in costs, particularly in raw materials and shipping, over the past year. Despite our best efforts to maintain current prices, we can no longer do so without compromising the quality of our products and the sustainability of our business.
As we implement these pricing adjustments, our dedication to providing premium products and excellent customer service remains our top priority. We value your loyalty and hope that you will continue to support us through this transition.
1. Why are prices changing?
Increased costs in raw materials and rising shipping expenses
2. What does this mean for you?
Price changes will be implemented in the coming weeks, and our commitment to quality and customer satisfaction remains strong. Make sure to take advantage of our current pricing until June 1st!
Thank you for your understanding and for being part of our journey as we continue to grow and develop HØJ. Your support means everything to us.
Author: Shaggy
Disclaimer: HØJ product prices may vary through time as raw materials and shipping costs are continuously changing. To maintain the same or better quality on our products, prices need to be adjusted from time to time. This is just informational and the situation can change at any time.
