These challenges will compound issues related to inventory. The combination of high and rising sourcing costs and an increasingly challenging retail environment can be expected to pressure retailer margins.
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YoY increases are affected by the reflation that occurred after the onset of COVID, when clothing prices decreased as much as 8.6 per cent (May 2020), as per the Executive Cotton Update by Cotton Incorporated.
Year-over-year (YoY), retail apparel prices were 6.0 per cent higher. Retail prices for garments decreased 0.2 per cent month-over-month in September. Levels below three dollars per SME were only recorded in one other period on record, and that was after the financial crisis, Cotton Inc said in the US Macroeconomic Indicators & the Cotton Supply Chain for November 2022. In March 2021, which allowed for a 12-month lag after the onset of the pandemic, the average cost per SME was below $2.97/SME. Recent values represent quite a reversal relative to the values that were posted in the wake of COVID. The latest value for square metre equivalent (SME) of cotton-dominant apparel set a record (data since 1989) in seasonally adjusted terms $4.11/SME. Relative to the average in 2019, current retail prices were 2.1 per cent higher in September, as per the Executive Cotton Update by Cotton Incorporated. YoY increases are affected by the reflation that occurred after the onset of COVID, when clothing prices decreased as much as 8.6 per cent (May 2020).
Year-over-year (YoY), retail apparel prices were 6 per cent higher. Retail prices for garments decreased by 0.2 per cent month-over-month in September.
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