The long stretch of falling womenswear prices doesn’t appear to be ending anytime soon.
The U.S. Labor Department’s latest Consumer Price Index (CPI), released Friday, revealed that apparel inched up 0.2% in August—a meagre increase, yes, but clothing prices have only fallen three out of the last seven months. In fact, prices are up 0.3% in the 12 months ended Aug. 31 compared to last year.
By category, men’s apparel prices rose 1.2% last month (suits, sport coats and outerwear registered the biggest increases) and prices for boys’ clothing crept up 0.4%. On a year-over-year basis, prices are up 1.1% in menswear and 3.2% in boyswear.
The same can’t be said for womenswear which fell 2.4% overall last month, with prices declining in all major categories: outerwear dropped 6.6%, dresses decreased 1.9%, women’s suits and separates were down 2 percent and intimates, sleep and sportswear slipped 1.8%. On a year-over-year basis, womenswear prices are down 0.4%.
Girls’ apparel prices rose 3.9% in August—a massive improvement from July when girlswear prices fell 5.5%, but still down 2.8% versus last year.
Overall, the CPI—which is what people pay for food, clothing, fuels and other goods and services—increased 0.2% in August and it’s up 1.1% over the last year. By comparison, the index for all items was flat in July and increased 0.2% in both June and May.
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