Shoes: soon, more expensive!
(photo: Barbara Haddock Taylor/Baltimore Sun)
One more entry in the 'Everything is More Expensive' file: shoes.
Some manufacturers like Brown Shoe Co., which makes Buster Brown and Via Spiga brands, are raising prices from 5 to 12 percent this fall, reports the Wall Street Journal. Payless Shoes has already increased its prices, and Nine West will increase by 15 percent on certain styles next year, according to the article.
Why the boost?
You probably guessed higher fuel costs, but the weakened U.S. dollar and higher costs in China, where 85 percent of shoes are made, have a lot to do with it too.
But American consumers have probably grown accustomed to prices that declined over the last decade as production shifted to lower cost locations such as China.
Will we see people stockpiling Manolos? Somehow, I think it's unlikely. But for those of you out there with a serious shoe addiction, is this going to change the way you shop?
Comments
liz,
this is just about the worst news ever on a monday morning... ok, maybe not ever. but it's definitely going to harm my shoe addiction.
Posted by: dan thanh | May 19, 2008 10:52 AM
Hey Liz,
This is bad news for US retailers. On one hand manufacturers are increasing the prices on the other hand consumers are not willing to pay more, because of the recession. In this troubled situation, online companies are making the competition verse by coming up with Shoes Comparison sites. Once the recession will end, everything will be alright.
Posted by: Richard Williams | May 22, 2008 2:02 AM