Price Raises for all Iron Heart - May 2024
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@PJ said in Price Raises for all Iron Heart - May 2024:
I could be wrong but I don’t think your segment of customers are that price sensitive.
Cheers
I think you are probably correct, but that does not mean we feel any better about putting prices up!
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@PJ thats very true. Not like an increase of £15 on an already £300 pair of jeans is gonna dissuade me. Also, I expect my employer to give me a pay to rise at least in line with inflation. It would be unreasonable to expect the businesses I support to not also do the same for their employees, and in fact I want to support businesses that DO make these tough choices rather than shaft their suppliers and staff. If the end result = marginal price increases for me, then so be it .
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@Alex and marges won’t get any bigger in your advance is my guess
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@Alex Thanks for sharing that with us! I work for one of the biggest retailers in Europe and we have the same issues and did not just increase the prices but also the payment for all employees. I am impressed that you also adressed this because it's one of the major things people have to deal with these times. Also I am happy to be able to afford a couple of nice pieces from time to time and am willing to pay for you guys being around for bringing all the good stuff to us
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So you're basically saying there's a global IH sale for the next 5 days?
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@Alex said in Price Raises for all Iron Heart - May 2024:
Until then, you have a 5% ‘sale’ for the rest of the week if you’re on the edge of a purchase.
Pretty much
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Transparency of IH is amazing and thanks for sharing @Alex. Very much appreciated to be this open and honest with us guys
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@Alex The loyalty vouchers are much appreciated, especially when prices (inevitably) increase.
If I purchase fewer IH items in the future, it’ll be because I have a bunch of it already and my closet has limited space.
It won’t be because of the price increase, which is dwarfed by the price increases at my local grocery store over the past couple of years. We all understand that Japan is facing serious economic challenges right now and it’s nice to support a Japanese business that means a lot to all of us. We’re also thankful to be in a position to do so. -
Late to the party, but thanks for sharing @Alex.
Incidentally, I was watching something the other day about the Japanese economy. Well worth a watch, particularly for anyone interested in macroeconomics.
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Id expect another one of these updates soon.
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@CosmoSix5 interested in your theory on why?
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@jfk1117 said in Price Raises for all Iron Heart - May 2024:
@CosmoSix5 interested in your theory on why?
Hey! I study currencies and economics as a hobby. As well as biblical study. Two weeks ago the yen hit another horrible milestone.
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Hmmm, I thought things were looking up? Of course, I’m not an economist (but I am great at turning my income into denim)
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@Buckeye yea I don’t think I’m feeling out what he’s putting out. Only thing hurting IH pricing is that they are buying American cotton. However seeing the prices in Japan, unless the yen gets way stronger, I don’t believe there is any validity to what he is saying. The Japanese government has to decide on a stronger yen or their economy in the short term. They tried to have both two weeks ago and their market plunged by 12%. They are stuck in a very difficult place. If American rates really come down, then lots of the yen weakness may unravel itself
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Maybe it was what god told him….
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Hahaha
God hath sayuth unto me…Miz, ye shall don a robe of the finest denim…and I trembled at his majesty…amen!@CosmoSix5 totally goofing around btw…not trying to disrespect anyone’s faith.
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No lol. In the shared press release, the reasons for the previous price hike was listed. And correct. Today those same issues have been worsened. American inflation demands even higher prices for everything. Cotton for this example. Japanese yen is much lower in value now.(So much more $ for the same amount of cotton then adding in the conversion deficit) The numbers the governments share is very flawed and rosy. Japan had its own great depression moment 2 weeks ago. Meanwhile in the non denim world the US govt is begging Japan not to unload a huge chunk of it's us debt(bonds). This would lead to even more us inflation while helping Japan in the very very short term.
The biblical part of the study is linked to end times where we're told of a single world government and currency. Every country's economy is in an impossible debt situation. The USA is not even the worst and there is no way to ever BEGIN to pay off the national debt. Simply paying the interest is not possible even with a 100% tax rate on absolutely all income and trade. Japan is worse. It's all about when people realize the issue. That's when it(current economic system)will end. Good times lol. I'm really fun at parties.
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