The prices of some men’s clothes and men’s accessories are becoming increasingly unaffordable, according to a new report.
Men’s apparel and accessories in Britain have gone from selling for just £1 to £1,200 in the past year.
The cost of men’s dress shirts and shirts and tie-dye shirts has soared from £3.75 to £7.50, according the National Association of Convenience Stores.
“The rise in the cost of clothes has been driven by the increasing cost of the manufacturing and logistics of the goods,” a spokesman for the association said.
“This has led to an increasing number of people buying their own clothes rather than spending the extra money on online or in-store retailers.”
The rise comes as retail prices have been falling for several years.
But the latest figures show the cost per unit has fallen by a third since 2013.
The association’s chief executive Simon Hochmuth said it was “very disappointing” to see the price of some items fall so rapidly.
“It’s really hard to see a scenario where these items are going to be affordable for many people,” he said.
But a spokesman from the British Association of Chief Executives said there was a “growing consensus” among retailers that the increase in the price should be limited.
“Consumers are demanding a more reasonable return on their investment and this is an important issue for us to discuss,” the spokesman said.’
Too big to fail’The association said retailers needed to look at ways to increase their profits and the level of investment they were making in new stores.
“I’m pleased that retailers have begun to look beyond their own self-interest in terms of increasing profits and are considering how they can make their businesses more profitable,” he added.
The government’s plan to spend up to £20 billion a year to help retailers raise their profits was seen as a victory for the industry, which has been under pressure from retailers to cut costs.
But some consumers have criticised the plan, which is part of a wider programme to encourage retailers to create more jobs.
The spokesman for supermarkets’ trade body, the National Retail Federation, said the government’s policy was “a step too far”.
“The government must ensure that retailers are able to raise prices at will to keep consumers in check, and this has to be balanced with the need to protect the environment and ensure that consumers are not locked into paying for goods that are of a higher quality than is currently available,” he told the BBC.’
No excuses’The report also highlighted the increasing pressure on retailers to reduce the amount of clothing they produce and how much they are paying for it.
It found that retailers were producing too much clothing and clothing accessories, which cost more than other goods.
The cost of items such as tie-dyed shirts, shirts, trousers and ties rose by £4.50 in the first quarter of 2017 compared to the same period last year.
The clothing industry has said that retailers should cut costs by 25% to 50% of the cost for their products, in line with the government plan to cut the price per unit of products by 20% over the next four years.
But the NERC said that there were “no excuses” for the increase.
“If we want to have a thriving economy we need to encourage people to shop, not force them to do so,” the NRC’s chief commercial officer Andrew Williams said.