Many of our frequent customers may have noticed that Banana Moon’s prices rose in 2011 for the first time in many years. We have always prided ourselves in offering very competitive prices. For years, our prices have remained stable, indeed many have gone down as we have passed on our economics of scale.
Unfortunately, we were hit by 4 large price increases from all brands in 2010 which all went up a very significant percentage. We couldn’t hold off the price increases any longer and at the start of 2011 we upped a large section of our prices. Unfortunately there is more bad news as the price of cotton continues to rise in 2011, our brands have hit us with more increases from the 4th April.We have spent some time discussing these and we are as always doing our utmost to avoid passing these on, especially on our bestselling items where customers have just got used to the new pricing.
Why is the global cotton crisis occuring? :
– Floods in Pakistan and China in 2010 devasted much of the world’s cotton crops
– The demand is therefore increasing for the available cotton, which then leads to the price increasing
– Rising labour costs in the Far East
The price of cotton is not always set to rise, however, a good crop this year could mean that prices can start to come down, and therefore we can then adjust our prices accordingly.
We wanted to write this blog to inform our customers of the situation but we also wanted to express our determination to keep prices as reasonable as we possibly can, with most not increasing any further. Of course this problem is a global one affecting the personalised clothing industry in every country and is not just Banana Moon deciding to put our prices up.
If you want to check out our prices, please visit the Banana Moon website.
However if you want to speak to one of the team about how the price increases will affect your orders, please give us a call on 01924 420022 and we will be happy to discuss this with you and give you some confirmed prices.