Digital wholesale platform Joor predicts that wholesale will continue to thrive next year as brands shift away from direct-to-consumer while adding that retailers will be buying conservatively.
According to Joor’s end-of-year report for 2023, brands on its platform are growing despite the difficult market conditions; of these, 67% reported sales volumes that were the same or higher than the previous year.
The strength of the wholesale market was especially evident, as 74% of respondents stated that wholesale accounted for more than half of their sales and that brands typically anticipated a 27% gain in their wholesale business. According to Joor, this is driving firms to prioritise investing in wholesale over their e-commerce and direct-to-consumer retail locations.
“2024 is set to be a very busy and exciting year for fashion wholesale,” said Kristin Savilia, chief executive of Joor in a statement.
