Why is the price of hair extensions getting higher?

Lydia from MyChineseHairExtensions explains in one of her video’s why the price of hair extensions and wigs increase.

For your convenience please see below the transcript, or feel free to watch the video of course. Use this info to set your own Best Pricing Strategies to Influence Customers.
“Hi guys, this is Lydia from My Chinese Hair Extensions. Today I made this video just to share with you guys why the hair price and wig price increases. The wig price increased a lot, that is around the 10% of the hair price. That is a lot actually. Today I am going to explain this in a very detailed way, then you guys know, Oh I get it, why the hair price increases.

First let me explain where this hair comes from, where these products were produced. Most of this hair comes from these Asian countries; Indian, Burma, Cambodia. These Asian countries. Right now, the hair getting into China becomes more difficult than before due to tax problem. They miss tax increase and the cost of the material increased. The second one is most of the lace products, like lace closure, lace frontal, lace wig. All these products were produced in North Korea.

Why is it not produced in China? Because the cost in North Korea is cheaper than in China. That is the reason. And you guys may know Coronavirus pandemic. That makes North Korea shut down the border line. It makes the lace products difficult, more difficult than before, to get this lace products from North Korea to China. And then the vendors can only sell the stock they have if they sell other. There are no lace products to sell. That makes the price increase. This is also the reason why the hair and the closure price increase.

About the hair price, the long hair price increased a lot. Around three or five US dollars. That depends on the different companies. Also, the long hair is very lacking. Most customers they do not have an idea why vendors control the order percentage for long hair. Because long hair is very precious. With most of the orders, vendors will control the long hair lengths orders to maximum 30%. That means you order maybe 100 bundles then you got maximum 30 bundles of long lengths of hair. From 22 inch to 30 inches. If more than that the price is going to be different. Obviously, it will be higher.