Glass media business leaders are reeling from the impact of higher energy costs according to a new survey by Information Strategies, Inc. (ISI).

In a survey of more than 300 companies involved in glass media, an average increase of 17% in fuel costs over 2007 was reported.
Many respondents (49%) said they were taking measures to offset this spike by reducing energy use and trying to pass on these costs to clients.

However, many (37%) also reported that they were experiencing kickbacks from clients in both the retail and manufacturing sectors.
Foreign competition, especially from Chinese sources of raw materials, has kept price increases to a minimum while surcharges for delivery are up.

Retailers who are also experiencing a downturn in total sales are concerned that the charges will continue to negatively impact profits through 2009.

Among the findings:

• 51% of respondents reported significant jumps in fuel costs
• 74% said they had higher costs from suppliers
• 81% said they had paid a new delivery fuel surcharge in 2008
• 47% said they were raising prices to meet new costs
• 10% said they were considering or were closing their establishments

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