10 ways to counter rising raw material and labour costs

Retailers and brands face an uphill battle. Just as the economy begins to show signs of life and retailers prepare to rebuild inventory levels, we're seeing rising production costs. Prices for cotton have doubled in the last year. Lumber prices in May were 79% higher than last year. Concerns about rising costs of raw materials, labour and transportation continue to come up on earnings calls. What can be done about it?