Next said prices will rise by 8% in the first quarter

[Mostafa044]

British clothing chain Next warned Thursday that if cotton prices continue to rise, British consumers will face double-digit increases in clothing spending next year. This bold prediction reverses Next's forecast from just two months ago, when it expected clothing prices to rise between 5% and 8%. However, with cotton prices already rising by 20% in October alone, and 10% in the spring. Next currently has 500 stores and 2.6 million online and catalog customers.


The company suggests that the real
culprit behind rising clothing prices may be a email list speculative bubble. A combination of factors, including rising Chinese demand, declining Indian production, floods in Pakistan, and speculation by yield-seeking investors, has caused cotton prices to surge 90% over the past 12 months. "Continued strong demand, a delayed monsoon in India's cotton-growing regions, and active speculative activity are all expected to keep the market moving higher," said the Commonwealth Bank of Australia.



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