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Spring malls began selling hot Khmer prices forcing spring prices to increase by 15%
As winter transitioned into spring, the temperature gradually warmed up, and shopping malls started to promote their spring collections. However, a recent reporter survey revealed that this year's spring clothing prices have risen by more than 15% compared to previous years. According to merchants, the main reason for the price hike is the increase in cotton prices this season.
On Monday morning, the reporter visited several large shopping malls in Lanzhou City and some well-known clothing stores. It was found that the prices of spring clothes after the holiday period were higher than the same period last year. In particular, women's clothing saw a significant increase, with some items rising by around 20%. On Zhangye Road Pedestrian Street, many branded stores such as Metersbonwe, ONLY, and VERO MODA had newly launched spring collections. Long-sleeved T-shirts had increased by 20 to 50 yuan, while single-layer jackets rose by 40 to 100 yuan. For example, a men’s shirt that cost 80 or 90 yuan last year now sells for over 100 yuan. At the Eastern Market, the wholesale price of spring clothes, which used to be between 30 to 40 yuan, has gone up by 8 to 10 yuan this year. Women’s suits have also seen an increase of 40 to 50 yuan.
Ms. Wang Chunyu, a customer shopping at the mall, told the reporter, “I wanted to buy some new clothes for myself. I went to the mall several times and noticed that the prices have gone up this spring. I used to be able to buy a set of clothes, but now I can only afford one piece.â€
In response to the price increases, some merchants explained that the rise in spring clothing prices this year is mainly due to the surge in cotton prices. With rising raw material costs and production expenses, it's natural for prices to go up.
According to a report from "China Finance Network," due to the global demand for cotton exceeding supply, U.S. cotton prices have continued to climb. The correlation coefficient between domestic and U.S. cotton prices is approximately 0.956. As U.S. cotton prices rose, domestic cotton futures followed suit. On February 17th, the Cotton 1109 contract on the Zhengzhou Commodity Exchange reached a high of 34,870 yuan per ton. According to "China CottonNet," as of February 18th, the spot market cotton price index (328) in China stood at 30,326 yuan per ton, an increase of 75 yuan per ton.
This rise in cotton prices has led to an overall increase in fabric prices nationwide. In Lanzhou's Guanghui Fabrics Market, the average price of fabrics has gone up by 4 to 8 yuan per meter. A shop owner mentioned that the purchase price of fabrics currently sold in his store is nearly the same as the retail price of similar products from the same period last year. The price remains stable. After the increase in cotton and fabric prices, the spring clothing prices in Lanzhou have also gone up accordingly.
With the ongoing trend of rising costs and inflation, consumers are being forced to adjust their shopping habits. Many shoppers are now more cautious about their purchases, opting for fewer but more essential items. This shift reflects the broader economic pressures affecting both retailers and consumers alike.