Welcome to 2024 – are you feeling better after your New Year’s celebration? If not, you may want to consider grabbing some tequila and continuing the party. It looks like Hermès has decided to do things a bit differently this year by starting their annual price increases earlier than usual. This time around, it seems they’ve decided to synchronize things a bit more across the globe.
In the past, European and Asian clients have had to adapt to price increases as soon as the new year starts, but this time around, the US and other regions are also experiencing these changes within the same timeframe. The iconic Hermès Zip Carabine Bag stands out with a significant 10.20% year-over-year increase, now retailing at $5,400.
The reasoning behind these price hikes is generally attributed to increased costs for raw materials and labor, which is pretty standard across many industries. However, global inflation has further compounded these issues, resulting in higher prices for luxury goods everywhere.
The anticipation of price increases often prompts clients to make pre-increase purchases to avoid paying more down the line, further boosting Hermès’ sales. The extent of the price increases varies across different product categories, with shoes seeing an increase of over 10% in some cases, while leather goods have increased by around 3-15%.
For those keeping an eye on specific Hermès bag prices, there’s a preliminary list showing the price changes for 2024. In the US, the average percentage increase for all bags listed is around 6.40%, while in Europe, it’s approximately 7.98%. Other countries like Australia, Canada, China, and Singapore have also reported significant price increases across various product categories.
Hermès enthusiasts may find it interesting to compare this year’s price changes with previous years by exploring historical reference articles and threads. Whether you’re a seasoned collector or a curious observer, staying informed on these price fluctuations is always a worthwhile endeavor.
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