There's no shortage of doom-and-gloom stories on inflation, shrinkflation, rent hikes, interest rate hikes and warnings of an impending recession.
Canadians are feeling the pinch just about everywhere, from streaming service subscription hikes to shocking airline fares. Those price increases have continued to touch nearly every corner of life, but knowing how much (and when) prices are rising can help manage and plan for more significant purchases.
Are Canadian fashion brands raising prices?
Lululemon is raising prices but exactly how much is unclear, though there is word that it will happen in Q2 (so, right now) and affect about 10% of items. To mitigate the price hike, look for the "I Made Too Much" section on the Lululemon website because it is stocked with discounted pieces.
BNN Bloomberg reported that Vancouver fashion house Aritzia would resist raising clothing prices, with CEO Brian Hill citing the company's robust supply chain and online sales. That's the official statement, but some eagle-eyed shoppers in forums dedicated to the brand theorize that some "new" items added to the inventory look like previous styles, with marked-up prices (from $5-15).
The good news? Artizia's summer sale is on now, and there are usually solid deals, like the Cozy Fleece Perfect Hoodie ($65) and the Babaton Essential Classic Shirt ($43.99).
Is fast fashion getting more expensive?
Fast fashion relies on the global supply chain to keep costs low. The soaring cost of oil has significantly affected prices at retailers like Zara (which hiked prices up to 10%) and H&M (which this spring told shareholders that there would be price increases without citing a specific number).
Because fast fashion relies on a constant churn of inventory, shoppers would be wise to try to hold off for a discount of at least 20% (to offset inflation pricing) before checking out items.
For those hoping for a closet refresh, H&M's summer sale is on now.
What's the inflation rate on a pair of jeans right now?
Levi's price increase is about 10% and kicked in late 2021 and into the early part of 2022. Still, there is a bright spot for consumers: sales and a robust inventory means finding pieces on sale (especially at the end of the season) is usually possible. The popular Wedgie Ankle Fit is $59.99 (on sale from $128).
A Glossier price hike is coming
Much-loved beauty brand Glossier took the unusual step of informing customers of an early July 2022 price increase, which means now is the time to stock up on Boy Brow set, Futuredew serum and the cult favourite Milk Jelly Cleanser.
Why are shoes so expensive right now?
The inflation rate on footwear has been rising month after month since January 2021, and in the US, March 2022 saw the biggest monthly price increase since 1981, with kids' footwear at a whopping 11%. It's hard for a single consumer to battle market forces like oil prices and tariffs. Take the sting out of shopping for shoes by looking for local lines like Vessi and Native Shoes and Canadian-based retailers like Little Burgundy, which currently has a massive spring sale.
Is there any way to save on household items?
Buying necessary items like laundry soap, dishwasher pods, Swifter dusters and compost bags in bulk is cheaper, but there are also limitations (like pantry space and budget) to stocking up. Amazon has a Subscribe & Save section with discounts on everything from pet food to diapers. Considering items are delivered, and it's easy to pause a subscription or skip a month, this is a great way to create a fixed budget and avoid grocery store price jumps. Check Subscribe & Save options on Amazon.