Tight supply is driving a rise in Christmas tree prices
Christmas tree supplies are tight across the U.S., fueling a rise in prices, per AP.
Why it matters: The industry is still bouncing back from the Great Recession, and trying to win people back from a shift toward artificial trees.
- Artificial Christmas trees make up 70% of all trees in U.S. homes.
What's happening: An oversupply of trees about a decade ago caused a domino effect nationwide.
- Fewer trees were cut down, which meant not as many seedlings were planted to replace them.
- Hot, dry weather also took its toll, forcing many growers to close.