The ongoing trade war has led to a 9% year-over-year increase in online apparel and accessory prices in July, making back-to-school shopping more expensive.
Back-To-School Apparel Prices Surge, Discounts Drop Sharply
A report first shared with CNN reveals that Klaviyo, a publicly listed customer relationship management firm, found an increase in average order values on 64% of apparel sites this back-to-school season. The firm also observed that discounts are lower by four percentage points compared to last year.
Jake Cohen, Klaviyo’s head of industry and insights, links the price hike to the ongoing trade war. “Tariffs have driven prices up. Brands are trying to create margin. The simplest way to do that is to raise prices,” Cohen told CNN.
Notably, Klaviyo’s data shows a much larger increase compared to the Bureau of Labor Statistics, which reported a comparatively modest 2.7% year-over-year rise in overall …