Retailers getting transparent with pricing

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ANNUAL EVENT.>>LOOKING GOOD.>>YES, IT IS.>>>HERE IS THE NEW TREND IN SHOPPING, COMPANIES TELL YOU EXACTLY WHAT IS BEHIND THE PRICE TAG.>>YOU PROBABLY WONDERED WHY ONE HAND BAG IS GOING FOR 300 BUCKS VERSUS 50 BUCKS OR 100 BUCKS FOR A BLOUSE WHEN ONE IS 25.>>WHAT IS UP WITH THAT?>>JOANNE PURTAN FINDING HONEST PRICES SO YOU DON’T WASTE YOUR MONEY.>>CONSUMERS WANT TO KNOW WHERE THEIR MONEY IS GOING AND THAT HAS A GROWING NUMBER OF RETAILERS LISTENING, TRANSPARENT PRICING IS THE KEY TO TRUST AND LOYAL CUSTOMERS. BUT OUR SHOPPERS REALLY BAGGING A BARGAIN? WHEN THIS COMES TO CLOTHING MARY LEE JOSEPH LIKES TO KNOW SHE IS GETTING WHAT SHE IS PAYING FOR. RETAILERS HAVE RARELY SPELLED OUR EXACTLY HOW PRICE IS DETERMINED UNTIL NOW. A GROWING NUMBER OF RETAILERS ARE SHOWING THEIR CARDS WITH SOMETHING CALLED TRANSPARENT PRICING.>>TRANS PRICE SOMETHING BASICALLY WHEN A RETAILER BREAKS DOWN EVERYTHING FROM SOURCING WHERE A FABRIC COMES FROM, TO TRANSPORTATION, TO HOW MUCH A ZIPPER COSTS.>>EVEN LINING AND PACKAGES, ONE EXAMPLE WHILE SHOPPING ONLINE, MARY LEE SPOTTED THIS BLACK T-SHIRT ALONG WITH THE PRICE THE SITE SHOWS MATERIALS COST $1.35. LABOR $5.35, A LITTLE OVER SEVEN DOLLARS THAT MEANED DOLLARS MARKUP.>>THEY SURPRISED ME A LOT IN TERMS OF FIRST OF ALL HOW DETAILED THE BREAK DOWN WAS.>>FASHION ANALYSTS SAYS SOME COMPANIES DECLARE THE COUNTRIES AND FACTOR ROWS WHERE THEY WERE MADE.>>WHEN YOU TALK ABOUT WHY SOMETHING IS $150 VERSUS $50, THE ARGUMENT FOR THE IS $150 PIECE IS, IT’S COMING FROM, I’M DOING GOOD FOR THE ENVIRONMENT, I’M HELPING SUPPORT FARE LABOR CONDITIONS.>>LIKE THE TRANSPARENCY MOVEMENT ALREADY POPULAR IN THE FOOD AND BEAUTY INDUSTRIES, MILLENIALS DEMANDING MORE INFORMATION ARE DRIVING THE DETAIL RESPONSE WHILE STILL NEW, MARY LEE THINKS CLARITY WILL BE KING.>>IF OTHER COMPANIES SEE OTHER COMPANIES ARE TRANSPARENT ARE SUCCESSFUL THEN I THINK THEY WILL FOLLOW THE TREND.>>HUGE COMPANIES ARE LESS LIKELY TO BE TRANSPARENT BECAUSE IT’S MORE DIFFICULT TO TRACK EACH PART OF THE SUPPLY CHAIN. HERE IS SOMETHING TO KEEP IN MIND SO YOU DON’T WASTE YOUR MONEY.>>DO YOU LIKE THAT IDEA?

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