Many of the conversations taking place at this year’s Spielwarenmesse are focusing on what impact the coronavirus – which has been declared a global health emergency by The World Health Organization – could have on global trade and the party industry is no different.
Travel and commercial clampdowns which have been issued as a result of the virus are threatening to cost China’s economy up to $60 billion this quarter alone, with impacted supply chains having a potentially disasterous affect on international trade.
The coronavirus, which first appeared in the central city of Wuhan, has already killed more than 200 people and infected more people than the SARS outbreak in 2003. Factories and business across the region remain closed as part of the Government’s efforts to contain the virus, putting a temporary stop to the manufacturing industry and disrupting the global supply chain.
“Obviously the period after Chinese New Year is a crucial time for the party industry placing their orders for Halloween so any major delays at this time of year could have a major impact on our suply chains,” commented MorphCostumes director Fraser Smeaton.
“It isn’t something we can influence at the moment so we are maintaining a watching brief and talking regularly to our factories,” he added.
Fraser also highlighted the added complication of sourcing fabric and other materials, pointing out that no-one will be able to move their production at such short notice. “Even if they have alternative costume manufacturers in place, the fabric mills are all based in China and will be impacted to the same extent.”
