Taj Week 13: Is Affordable Clothing a Memory of the Past?
Is Affordable Clothing a Memory of the Past
Since when was it normal for a plain, common hoodie to cost $60? Or $30 for a t-shirt?
I personally do not remember regular clothes, not by luxury brands, nearing or at least approaching the price of expensive designers.
Over the last few days I was hoping to buy some new clothes online where I was met with this fact. I was not only surprised but shocked by how much clothing has increased in the last few years. The last time I was shopping for clothes, shirts and hoodies were at reasonable prices; $10 to $15 per t-shirt or $30 for a nice hoodie. As a result, I was curious as to what caused this increase. Was it inflation? Is the fashion industry still struggling from supply chain issues caused by the pandemic?
It seems to be a combination of both.
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An article published by McKinsey finds that Consumer Price Index (CPI) data, a key indicator of inflation, for the clothing sector supplied by the Federal Reserve supports the claim that inflation is one of the many culprits of increased clothing prices (Source). As a result, they find that prices for normal clothing have increased year over year, so fashion companies can remain profitable. McKinsey also finds that the increased costs around the board, not just the cost of goods, for companies have caused the shrinking of margins which is another reason why clothing brands have augmented prices (Source).
However, inflation does not paint the full picture on why apparel has dramatically spiked in recent years. An informative article published by Elisa Anzolin finds supply chain routes and manufactures were severely damaged from the pandemic (Source). She finds that the shock in revenue from the rapid closings done by clothing brands caused many complex routes to be permanently closed as they could not meet their bills due to the prolonged closures (Source). Thus, brands have attempted to move away from overseas production and instead to domestic manufacturing which has caused companies large amounts of money to begin the drastic change (Source).
Both articles claim that it will get worse before it gets better. It will take time for the Federal Reserve to end its tampering of inflation and for companies to become accustomed to their new manufactures.
So it seems that affordable clothing will be a memory of the past.
Hi Taj! I really enjoyed reading your blog this evening. I appreciate how you ease the reader into your main argument—pointing out an observation you’ve made, before identifying the issue and ultimately arguing a side. I completely agree with you: I remember shirts and hoodies being $30 max, but now you have to get extremely lucky to find even a t-shirt for under fifty dollars. Actually, one hoodie that my mother bought for me costs ONE HUNDRED DOLLARS, which is insane! I think you ask an important question that many of us are too unconcerned to raise ourselves. This demonstrates how you are unafraid to challenge the status quo and secure your piece of mind. Then, to answer this question, you consult two highly credible scientific studies. You do a fantastic job dissecting these studies and integrating the material into your text. Not only does it add credibility to your blog but it guides your argument to find inflation and the pandemic as the culprits. The path through which you found the answer was simply beautiful. I like how you include a mini paragraph that discusses the ideas of both sources together, before concluding, because it serves as a nice transition. Finally, you end with a concise conclusion that essentially summarizes your argument.
ReplyDeleteHi Taj! Your blog wonderfully dissects the concerning trend of skyrocketing prices in the clothing industry, shedding light on the many reasons behind this shift. Your integration of data from reputable sources like McKinsey and Elisa Anzolin adds weight to your argument, increasing the credibility of your analysis. Specifically, your explanation of how McKinsey's research on Consumer Price Index data supports the claim of inflation's impact on clothing prices provides readers with concrete evidence to grasp the magnitude of the issue. Additionally, your reference to Elisa Anzolin's findings regarding the lasting repercussions of pandemic-related supply chain disruptions deepens the understanding of the complex interplay between global events and industry economics. However, while your post effectively diagnoses the problem, it could benefit from a more forward-looking approach. Consider incorporating suggestions or strategies for navigating these rising prices, such as exploring thrift shopping, supporting ethical fashion brands, or embracing minimalist wardrobe concepts. By offering actionable insights, you can empower your readers to make informed decisions in the face of evolving economic challenges. Overall, your thoughtful analysis sparks important conversations about the future of affordable clothing.
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ReplyDeleteThank you for this informative piece on a matter that is highly relevant to our everyday lives, the ever-increasing price of clothing. This is a trend that I have personally noticed as well, so it is especially interesting and enlightening to have the reasons behind it confirmed. I had already suspected that the higher prices were the result of inflation, and it makes sense that COVID would have disrupted the clothing industry in a way that it did many others. I liked how you led with a relatable anecdote that raised questions that you proceed to answer using relevant studies. You conclude with a prediction for the future that helps wholly answer the questions raised and any additional questions that the audience may have had.
ReplyDeleteI find that the problem is especially bad if you want clothes of any decent quality. My mother likes to shop for 100% cotton clothes, and not only have they become increasingly difficult to find, but they have also gotten exponentially more expensive over the years, even before COVID. It can't help that clothing manufacturers have to compete with fast fashion chains that can sell cheap (and poor-quality) clothes en masse; unfortunately, the high prices only drive more people to fast fashion.
Overall, this is a well-written piece that I quite enjoyed, even with the displeasing topic material.
Hey Taj! Your choice of discussion for this quarter’s blog was an interesting one. I expected most blogs to be about memory itself, or at least an aspect of it. However, you went beyond these expectations and used this opportunity to highlight a common occurrence for many people. I have to admit that I have little knowledge of hoodie prices because my parents usually buy them for me. However, I am aware of the increasing prices of various consumer products over the past few years. I liked your introduction to your discussion through the event that incited your curiosity and compelled you to explore the reasons behind this increase. The blog was comprehensive and effective in addressing different causes. It was evident that inflation was a root cause of the increase in hoodie prices, but I realized that I neglected the effects of the pandemic. For hoodies, I did not believe that the pandemic had too much of an impact on the market because it seemed like people still bought clothes. However, I understood that my belief was inaccurate as you mentioned how business plummeted for many clothing brands during the pandemic. I enjoyed learning about this important occurrence involving an industry that is vital to high school students today. As for your final sentence, I would disagree with your belief that affordable clothing will never be a reality again. I think we should be optimistic about the future because we are slowly working our way out of the pandemic and into a new world. I understand that it seems unlikely as of now, but if the problem escalates, humanity will figure it out like we have several times throughout history.
ReplyDeleteHi Taj,
ReplyDeleteI was enlightened by your insight into clothing and its affordability and how it can be fit underneath the umbrella of the topic of memory. I was truly able to understand its value and how it has a significant impact on our past, present, and future. Through the way you described "the shock in revenue from the rapid closings done by clothing brands caused many complex routes to be permanently closed as they could not meet their bills due to the prolonged closures" I was able to interpret the depth of the issue in question. I agree that “it will take time for the Federal Reserve to end its tampering of inflation and for companies to become accustomed to their new manufactures.” I especially loved how you introduced your blog post this week by asking your readers an interactive question in which the answer is pretty much universal and relatable. Starting yourself and your audience off on the same page aided in the way you were ultimately able to convey your message. Thank you for sharing!