Apparel and footwear prices rose in March, according to data just released by the U.S. Department of Commerce, finally resisting the downward pressure that had been plaguing the category during the prior two months.
Overall inflation increased by a more-than-expected 1.5% in March, much of it due to housing and food price increases. Energy prices were tamed a bit, resulting in a core inflation rate rise of 1.7%.
The index for apparel and footwear, swung from a 0.6% drop last month to a 0.5% increase in March.
Apparel prices (excluding footwear) gained 0.8%, compared to a 0.4% drop in February. Footwear prices dropped by 1%.
Women’s apparel prices jumped by 1.6% in the month, while menswear prices rose by only 0.2%.
The price index for infants’ and children’s apparel increased for the first time in fourteen months, up 0.7 percent. Girlswear prices edged up by 0.5 percent, an improvement over their 3% February drop. Boys’ apparel prices increased 2%.
Boston Retail Partners uncovers how retailers are trying to deliver true multichannel shopping experiences to meet the consumer demands of the future.Read more
A recent report highlights how transparent, compliant supply chains benefit all aspects of apparel businesses—though only some companies can overcome inherent challenges to reap the rewards.Read more
China is bolstering its AI fleet with robust investments, domestic talent and a desire to dominate the sector in upcoming years.Read more
The Vietnam Textile and Apparel Association has appealed to the Hanoi not to impose import tariffs on polyester fiber.Read more
Though Li & Fung has been working on its new Three-Year Plan to digitize and speed up the supply chain and its evolution to agent 2.0, the business has still hit on hard times as retail wriggles out of its old skin and into a new life.Read more
Simon believes that the mall is a boon for new brands—and its latest pop-up concept could bring consumers back to brick-and-mortar.Read more
Textile Exchange, the global non-profit that promotes the adoption of preferred fibers, integrity and standards and responsible supply networks, has released its largest preferred fibers report ever in the number of participants and areas of coverage.Read more