Clothing prices to go up by 10% next autumn
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When the head of Next warning that the cost of fashion wear will probably increase by 10% next autumn it is of benefit considering the way you are going to look fashionable in the next year. Because of the decline in the price of sterling it will mean the cost of importing fashion clothing much higher in the coming year as a lot of new fashion wear is sold in dollars and is brought in from Asia.
The production of clothing has moved to countries like China, Bangladesh and Vietnam because of their reduced labour cost but this appears to have had a harsh impact for many big labels as with the falling cost of sterling, the exchange rate of sterling with dollars has reduced by 15%. Lots of retailers will have problems passing on inflated prices as the cash paying public are potentially going to be a great deal more careful with their cash and may choose to hold back rather than spend unless insentives are their to buy fashion items.
Some enterprising businesses have been running fashion show fundraising events at which you can purchase original branded fashion wear with up to 50% off the recommended retail price. They are sold as slightly imperfect even though most are not seconds but over-runs or end of lines. These Fundraising events let people help a good cause of their choice or raise funds for there Dorset school or village hall, and buy a selection of labelled clothing at knocked down rates.
Personally I think it will do individuals good to find different ways of putting their hands on fashion wear. So perhaps if you have a corporate fundraising event or village hall fundraising event you could get in a fashion show fundraiser, make shopping an enjoyable event and save yourself some cash at the same time.
