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Spring malls began selling hot Khmer prices forcing spring prices to increase by 15%
As winter transitions into spring, the temperature gradually rises, and malls begin to showcase their spring collections. However, a recent reporter survey revealed that this spring season has seen a general price increase of more than 15% compared to previous years. According to merchants, this rise is largely attributed to the surge in cotton prices this year.
Yesterday, the reporter visited several large shopping malls in Lanzhou City and some well-known clothing stores. It was found that the prices of spring clothing have increased compared to the same period last year. Particularly, women’s fashion saw a significant jump, with prices rising by approximately 20%. On Zhangye Road Pedestrian Street, brand stores such as Metersbonwe, ONLY, and VERO MODA have launched new spring collections. Long-sleeve T-shirts have gone up by 20 to 50 yuan, while single-layer jackets have increased by 40 to 100 yuan. For instance, a men's shirt that previously sold for around 80 to 90 yuan now costs over 100 yuan. In the Eastern Market, the wholesale price of spring clothes, which used to be between 30 to 40 yuan, has risen by 8 to 10 yuan this year, while women's suits have gone up by 40 to 50 yuan.
Ms. Wang Chunyu, a customer shopping at the mall, shared her experience: “I wanted to update my wardrobe this season, but after visiting the mall a few times, I noticed that prices have gone up significantly. Last year, I could buy a full set of clothes, but now I can only afford one piece.â€
In response to the price hikes, some merchants explained that the increase is due to rising cotton prices. With higher raw material costs and production expenses, it’s natural for spring clothing prices to rise.
According to a report from China Finance Network, global demand for cotton has outpaced supply, causing U.S. cotton prices to continue climbing. The domestic cotton market closely follows U.S. cotton trends, with a correlation coefficient of about 0.956. As U.S. cotton prices rose, domestic cotton futures also followed suit. On February 17th, the Cotton 1109 contract on the Zhengzhou Commodity Exchange reached a high of 34,870 yuan per ton.
From China CottonNet, the spot price index (328) of Chinese cotton as of February 18 was 30,326 yuan per ton, an increase of 75 yuan per ton.
This trend has led to a nationwide rise in fabric prices. At Lanzhou Guanghui Fabrics Market, the average price of fabrics has increased by 4 to 8 yuan per meter. A local shop owner mentioned that the cost of fabrics they currently sell is almost the same as the retail prices of similar products from the same period last year. After the increase in cotton and fabric prices, spring clothing prices in Lanzhou have also climbed accordingly.
With the ongoing impact of rising cotton costs, consumers are feeling the pressure more than ever, and the fashion industry is adjusting to these economic realities.