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Corporate Clothing Supplier of the year 2020-21
Mid Year Market Update - prices and supply chain issues
Firstly, we want to thank you for your continued business and cooperation throughout these testing times. Since our last update, we have worked very hard to substantially reduce the number of back-orders which has been the biggest roadblock to satisfying our customers’ requirements.
By now everyone will be aware of the multiple issues within the supply chain that affect pricing, but to illustrate some of them:
- Polyester prices increased by 29% in 2021. Since January 22 they have increased a further 12%.
- Cotton prices increased by 43% in 2021. Since January 22 they have increased a further 28%.
- Wage and manufacturing costs have increased substantially.
- The weakness of the Pound against the Dollar increases the costs of imports. On the 1st of January 2022: 1 GBP = 1.3532 USD. On the 1st of June 2022: 1 GBP = 1.2077 USD.
To offset some of these costs, a modest 4.5% increase will be implemented across the range which comes into effect on the 5th July 2022. In case you don’t know, we always approach price increases with great caution and have held-off from making these changes until it became absolutely necessary. Should you have any questions, do not hesitate to contact us
Again, thank you for your understanding and the loyalty you have shown to Aspect Corporate Clothing Ltd