Russia set to experience a hike in prices for clothing and footwear

2021-03-31

A large number of clothing and footwear suppliers reported an increase in the price of products by the beginning of the summer of 2021. This is due to an increase in purchase prices for raw materials, Solidarity reports.

The future rise in prices will be affected by the change in the dollar exchange rate, an increase in the price of cotton and raw materials for “eco-leather”. On average, raw material prices have increased by 20-30%.

“Earlier, experts predicted an increase in prices for imported clothing, footwear, household appliances, furniture and food due to the rise in the cost of sea transportation. Thus, household appliances and furniture will rise in price by 10-15%. According to the founder of the Zenden Group, Andrey Pavlov, new footwear arrivals are already at a price that exceeds last year’s by 2–20%.” – the publication summarizes.

The issue goes not without mentioning the coronavirus. The impact of the epidemic is associated with problems with suppliers from China as the world’s main production site.

Moreover, when explaining the increase in prices, experts mention that among the aforementioned costs an increase in the cost of the wages fund has an effect on price. We find this is a strange assumption, considering the statistics show that employers are in no hurry to increase wages in the current conditions.

The convenient coronavirus excuse is working its magic again: the instability of the world currencies and the increase in production costs are associated with anything but the most basic reason – capitalism.