High Street market shows global average prices for ready-to wear of 37€, while the average price for premium brands finds itself at 203€. This difference does not only trace back to the different clientele but the product range proportions that strongly differ between the two markets.
For womenswear, dresses and tops have seen the largest price increase, comparing 2021 to 2022. Y2K essentials, including tanks and cami tops, become more affordable than last year as retailers address their assortments towards Gen-Z. The pricing on all other analyzed styles has inflated compared to the past two years.
While the dress category was rocky during the pandemic, it heated up as restrictions ease. This allows retailers to reposition their prices this season and capture the spending of today’s dressed-up consumer.
Coming back from sweat pants, jeans are now showing a came back, growing +4 pts% in average price.
For accessories, bags and shoes have seen their prices increase and footwear has shown +11pts% difference and bags +9pts% compared to 2021. Jewels are another category to show a distinct price rise of +6pts%.
After the increase in petrol, gas and electricity prices, you have to plan your price strategy with more accuracy to retain the best price but increase your margins, aiming to produce less but better.