Today in Retail: Rising Cotton Prices Hit Apparel Brands; Walmart Adds Netflix Merchandise

In today’s top retail news, cotton prices have hit their highest level since 2011, adding to the issues apparel brands are facing, while Walmart is partnering with Netflix on products based on the streaming giant’s top shows. Also, British online retailer ASOS is parting ways with its CEO, and conversational commerce could see widescale adoption within the next 10 years.

Rising Cotton Prices Intensify Headwinds for Apparel Brands

Cotton prices have hit a 10-year high, adding to the myriad issues facing apparel brands as they try to navigate increased transit times, factory shutdowns and other rising costs across the supply chain. Prices remain below the height of over $2 seen in 2011, but companies are already working to get ahead, with Levi Strauss & Co. last week telling analysts and investors that the company has already negotiated most of its product costs for the first half of 2022.

Walmart Partners With Netflix on New Product Lines

Walmart and Netflix are joining forces to bring products celebrating some of the streaming service’s most popular kids’ shows to store shelves across the country, the latest in a string of collaborations for the two companies. Earlier this year, the company launched an augmented reality (AR) experience that brings characters from Netflix’s “Waffles + Mochi” series to brick-and-mortar aisles.

ASOS Chief Executive Exits in Leadership Shakeup

British online retailer ASOS is saying goodbye to CEO Nick Beighton ahead of what’s expected to be a tumultuous period for the company amid supply chain bottlenecks and a return to pre-pandemic shopping habits that could take a 40% bite out of its profits. Beighton leaves ASOS after 12 years with the company, including the last six as CEO.

Conversational Commerce May Be ‘Significant Portion’ of eCommerce Purchases Within Next Decade

Mike Myer, founder and CEO of communication platform Quiq, told PYMNTS in an interview that conversational commerce, or making purchases without leaving a messaging platform, “is still pretty ethereal to a lot of organizations,” but will likely be much more widely adopted in the next five to 10 years. With more brands and consumers becoming comfortable with having digital conversations, Myer said the world is just a couple of degrees of separation from conversational commerce becoming a common occurrence.