The cost of children’s clothing and accessories has fallen from $13,600 to $12,900, according to the latest figures from Australian clothing retailer Kids & Co.
The company said its first-half profits were down $1 million from a year ago, partly because of the higher costs of running its Australian arm.
It said the overall average price of children clothing and toys was up $1,100 over the past year, due in part to a jump in the price of baby items.
The decline in prices was driven by a drop in the average cost of clothes and accessories in Australia, the report said.
It noted that clothing was also up in Australia due to a higher demand for children’s items.
However, it noted that the number of children aged under four in Australia has dropped by 8.5 per cent, while the number in the age group over 65 has grown by 9 per cent.
The data showed a rise in children’s footwear, with the average price for a pair of sandals at $25.90, up from $24.40 last year.
The latest figures were released by Kids & Con, a discount retailer of childrens clothing, toys and accessories, which operates in about 1,200 stores in Victoria, Queensland, New South Wales, Western Australia and South Australia.
“This is a real improvement on last year’s results,” CEO Julie Andrews said.
“Kids & Co has continued to deliver a quality selection of quality, affordable products, which has led to a strong business.”
Ms Andrews said the company was working hard to attract a younger clientele and had made the decision to cut the price on its first range of kids clothing.
“The focus has always been on providing quality, but we’ve also made a number of significant changes over the last few years to our range,” she said.
Ms Andrews also said Kids & Cons had made significant changes to its online store to reflect the increased competition from Amazon.com and other online retailers.
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