"Uniqlo at This Price?"... Consumers Up in Arms After Price Hike Announcement

Public Criticism of Sock Price Hike from 290 Yen to 390 Yen

Scrapped in Less Than Two Weeks... Four-Pair Discount Also Maintained

Japanese clothing brand Uniqlo withdrew its plan to raise sock prices less than two weeks after announcing it. As household burdens have grown amid high inflation, criticism of the planned price hike spread, prompting the company to keep current prices and multipack discounts. However, it plans to raise prices on some products, including jackets and pants, as scheduled.

According to AFP on October 29, Fast Retailing, Uniqlo's parent company, recently withdrew its plan to raise prices on basic-color socks. Uniqlo had previously announced that it would raise the price of a pair of the socks from 290 yen (about 2,460 won) to 390 yen (about 3,300 won) and end discounts for customers who buy multiple pairs.

In front of a Uniqlo store in Tokyo, Japan. AFP-Yonhap News Agency

Backlash over sock price hike... withdrawn in less than two weeks

On October 16, Uniqlo announced that it would raise prices across its fall and winter product lines by an average of 4%. However, the plan sparked controversy in Japan, where sustained inflation has increased the burden on households. Some also voiced concern that the move could damage Uniqlo's brand image as a symbol of "affordable fashion."

On October 27, Uniqlo officially withdrew its plan to raise prices and said it would also maintain the discount offer of four pairs of socks for 990 yen (about 8,400 won).

In a statement, Fast Retailing explained, "Because socks are an essential everyday item, after reviewing our plan to raise prices in Japan, we decided to maintain the discount on packs of four pairs."

However, starting in November, Uniqlo plans to raise prices on some items, including jackets and pants, as scheduled. Higher manufacturing and shipping costs, as well as the yen's weakness, are cited as the main reasons.

People carry Uniqlo shopping bags on a street in Tokyo, Japan. AFP.

Inflation continues in Japan... companies also face pressure over price hikes

Prices are rising across everyday life in Japan, from food to transportation. This contrasts with the past, when the country experienced decades of deflation.

In September, Japan's consumer prices rose 2.1% from the same month a year earlier. In particular, a sharp rise in international oil prices since this spring has intensified inflationary pressure, and the Bank of Japan has also begun raising interest rates.

Companies that had long promoted their low prices are also finding price increases unavoidable and are watching consumers' reactions closely. Japanese restaurant chain Saizeriya even apologized to customers when it announced price increases this month.

Japanese companies are passing some of their higher costs on to product prices, but they are still unable to fully cover the increase in costs. The Japanese government is trying to ease the burden of inflation on households through measures such as large-scale energy subsidies.

This content was produced with the assistance of AI translation services.