Uniqlo pricing strategy adjustments

Uniqlo, owned by Fast Retailing, initially announced a series of price increases and changes to its sales model due to rising raw material costs, logistics expenses, and a weak yen. The plan, set to take effect on November 10, included raising prices on the ‘Kando’ jacket and pants series and discontinuing popular bulk-purchase discounts for socks.

Specifically, the retailer intended to end deals such as four pairs of ‘50-color socks’ for 990 yen, moving instead to individual sales at 390 yen per pair. This would have resulted in a practical price increase of approximately 58% for customers using bulk discounts.

On October 27, Uniqlo reversed its decision regarding the sock pricing, announcing it would cancel the planned hikes for ‘50-color socks’ and various bulk-purchase deals. A spokesperson for parent company Fast Retailing stated that the decision was made because “socks are an essential everyday item,” leading the company to reconsider the revision. The company apologized for the confusion caused by the rapid policy change. However, other planned price increases for items like the ‘Kando Jacket’ and ‘Kando Pants’ remain scheduled to proceed.