When inflation in the US hit a 30-year high in October with consumer prices rising 6.2%, retail Edited market intelligence platform mined its data on over 4 billion inventory holding units to see the impact of several product categories.
In the luxury handbag segment, the company said when compared with 2019, “the average price of handbags in stock increased by double digits in Gucci (14 percent) and Prada (11 percent), with Louis Vuitton recorded the strongest increase at 45 percent.”
Edited said in its report that sportswear and activewear brands continue to exploit opportunities of consumer interest in adopting a healthier lifestyle in a post-lockdown environment. . But like other segments, prices have gone up. Edited said Nike “has updated the majority of its new shorts options from $30 to $40 to $40 to 50 buckets.”
Meanwhile, Edited said Lululemon introduced “higher-ticketing styles in its best-selling Align show, boosting its highest-priced leggings from $118 in 2020 to $128.” la in 2021.”
As for denim, the report’s authors say “the increase in cotton prices has had the most impact on denim categories, which account for more than 90 percent of the raw materials used in production.” Edited said Kontoor Brands, which owns the Wrangler and Lee jeans, has seen its stock price drop 6%. “
In the footwear sector, shoe prices rose 6.5% in September year-on-year, “the fastest pace in more than two decades. All months except August showed year-on-year gains, with September up 26%, peaking at $77 from $66 in 2019.”
In the so-called hit footwear segment, Edited said since 2019, “several hype brands have found sophisticated ways to raise prices while keeping demand intact. For example, Birkenstock raised the price of its Arizona sandals from $39.95 to $44.95 this year, Dr. Martens raised the price for its 1460 boots from $230 to $250, and Crocs raised the price. its average selling price up 8 percent. ”
https://wwd.com/business-news/retail/edited-data-inflation-1235003666/ Edited data reveals impact of inflation on clothing category – WWD