It is no secret that problems with helium availability over the past two years have impacted several industries that rely on this gas. What may be less known is a major financial opportunity for gas producers to serve the balloon industry—a significant market—with a product that is less than 100 percent pure helium.
While the availability problem is widely known, many in the gas industry are unaware that the higher price of helium has created economic and job losses for Americans in the balloon industry. In the last 24 months, the price of a helium tank has more than doubled in many markets, forcing retailers to either pass the increase on to the consumer or abandon the sale of balloons altogether.
For those continuing to sell balloons, the rising price of helium caused the sale of 25 inch or larger balloons (particularly those containing more than one cubic foot of helium) to drop, ruling out this segment of balloons as part of their offering. And a helium filled balloon that once cost the consumer between $7.00 and $8.00 now costs between $10.00 and $11.00.
Industry estimates show balloon revenue is down 10 to 20 percent nationwide, and for some retailers the resultant loss has been too much to bear given the high percentage of sales that balloons represent in their business.
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