My Bottom Line: Kim Winser, fashion and retail expert
Retail and fashion expert Kim Winser says both manufacturers and consumers need to come to terms with the fact that the era of cheap goods is on the wane.
Manufacturers are facing increasing costs in terms of labour and raw materials, and while countries such as Vietnam and Bangladesh replacing more expensive manufacturers in China - they cannot produce on the same scale as China.
Therefore, if consumers have to pay more they will also expect better value and Kim says the companies which realise this will come out on top.
Find more business wisdom from other chief executives on the My Bottom Line website.
24 Oct 2012