January 28, 2022
2022: The Price Increases Continue
Here's what Cooper, Lutron, Acuity, Hubbell and Signify are up to
In 2021 we saw many of the major brands in lighting implement three or four price increases – citing the escalating costs of components and logistics along with other inflationary pressures. The year 2022 seems to be a continuation of the continuous price escalation affecting nearly all industries, including electrical and lighting.
Pre-2021 it was common for price increases to be communicated with higher levels of specificity than we are seeing today. i.e. 4-6% increase for this product category and 8-10% for that product category. Given the volatility of markets, manufacturers are currently providing more general guidance.
Here is a roundup of what some notable manufacturers are communicating.
Signify
Signify will be implementing a price increase on Philips Conventional Lamp portfolio, in addition to a select group of Genlyte Solutions brands, Color Kinetics and Interact product families effective February 1, 2022. Philips LED Lamp and Lamp Electronics portfolios will not be impacted by this increase.
UPDATE 12:07pm EDT: Signify announced today that it has pushed back the effective date of the price increase to February 14.
Hubbell Lighting
Hubbell Lighting is implementing a price increase on luminaires and controls effective February 14, 2022. The imminent acquisition of Hubbell Lighting by GE Current, a Daintree company is expected to close at midnight January 31.
Cooper Lighting Solutions
Cooper Lighting Solutions announced a general price increase across a range of impacted Lighting and Controls products. The price changes will vary by product line and will be effective February 14, 2022. All quotations, orders entered without release, and requests for future delivery after February 14, 2022 will be invoiced at new prices, without exception.
Lutron
Lutron’s price increase took effect on January 17. All commercial projects previously quoted AND with a hold for release (HFR) PO received by January 14th were honored as quoted. The updated project cost will be invoiced on all lot quotes with HFR or Release POs received on or after January 17th. Wallbox/EDI ordered items will be invoiced at the cost that is in effect on the day the order is placed with Lutron.
Acuity Brands
As previously reported, Acuity Brands has announced a price increase to its distributor and showroom partners. The increase will be effective February 7 and will be applied to most of the company’s product families.
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