Prices of home appliances are set to rise by up to 20 percent, a Saudi retail boss has warned.
The current global shipping crisis, which has seen container shipping costs surge by more than 500 percent, is to blame, Mohamed Galal, CEO of Saudi electronics and home appliances retailer eXtra said.
In an interview with AlArabiya, Galal cited a global shipping crisis that will have a direct impact on product pricing, as a container currently costs between $7,000 to $12,000, compared to $1,800 previously.
Sales of mobile phones and home appliances grew by 7 percent up until July, Galal said, noting that the launch of the iPhone 13 in the third quarter has further supported sales.
