This week, I think it's time to talk about the Gorilla in the corner: fabric prices. There is a lot of stuff is circulating around about prices and price fixing etc., so here is what I know today:
Most companies have raised their wholesale prices by anywhere from 10% to 20% on average. Our solids have gone from $3.50 to $4.20 (wholesale cost there) which is a jump of .$0.70 . While that might be small potatoes, other cottons are jumping up to $6 (wholesale) and higher. Most retailers will double their cost and add shipping. The recommended MSRP about is $1.00 a yard so we are looking at $13.00 for most woven (or $12.99). Flannels will hit the $13.99 price point or very close to it.
There is also a movement afoot with manufacturers about minimum pricing. This means that a store cannot sell for under the minimum price set by the fabric company. Right now, it looks to be in the $10-11 range. This is to help small retailers, like local shops, not compete with big box stores that cut prices way down.
So what does this mean for prices at The Cotton Patch? I see it like this: whatever the price on the floor is at the moment, it will stay that way. We have not, do not, and will not raise prices on goods that already arrived. However, as new fabrics come in we will continue to double the wholesale cost and add shipping as we have always done. And, as I have always said, if I save on shipping, so do my customers.
Here is a little editorializing; I am not in the business to have a giant house on the hill, drive a fancy car, or have the biggest store in town. I run this store because I love quilters, quilting, sewing, and of course fabric. I love to see creativity in sewing. It is truly my first love (outside of family and friends). I want to have great fabrics at good at fair prices. All of us signed at the end of the newsletter are committed to that as part of the store.
I hope by telling you about the pricing that goes on behind the scenes that you will be able to know if you are getting a fair deal on what you buy. An informed consumer is the best thing in the world!