Edited Data Shows the Impact of Inflation on Apparel Categories. As consumer prices in the United States hit a 30-year high of 6.2 percent in October, retail market intelligence platform Edited used data from more than 4 billion stock keeping units to examine the impact on different product categories.
When comparing the luxury handbags category to 2019, the business stated that “the average full price of in-stock handbags jumped by double digits at Gucci (14 percent) and Prada (11 percent), with Louis Vuitton marking the greatest gain at 45 percent.”
According to Edited’s analysis, sportswear and activewear firms are continuing to capitalise on customer enthusiasm in adopting healthier lives in a post-lockdown atmosphere. However, prices, like those in other areas, have been rising. Nike “changed the bulk of their new-in shorts selections from $30 to $40 to the $40-to-50 bucket,” according to the edited version.
According to the report’s authors, “increasing cotton costs have hurt (denim) Apparel Categories the most, accounting for more than 90% of the raw materials required in production.” Kontoor Brands, which owns Wrangler and Lee jeans, has already seen its stock price decrease by 6%.”
In the footwear industry, shoe prices rose 6.5 percent in September compared to the previous year, the “fastest rate in more than two decades.” Except for August, all months increased year over year, with September increasing 26 percent, peaking at $77 vs $66 in 2019.”
Since 2019, “many hyped labels have gradually found methods to boost cost while keeping demand intact,” according to Edited in the so-called cult footwear market. For example, this year, Birkenstock increased the price of their Arizona sandal from $39.95 to $44.95; Dr. Martens increased the price of its 1460 boot from $230 to $250; and Crocs increased its average selling price by 8%.”