In a recent poll, Joor, the digital wholesale platform, discovered that nearly 74 per cent of businesses said wholesale accounted for more than 50 per cent of their sales, and the majority of those firms (51 per cent) ranked wholesale as their primary channel for investment over e-commerce and DTC retail shops.
The Current State Of Wholesale B2B Fashion report, released by Joor, shares market insights from its client network of over 14,000 brands and 600,000 customers. According to Joor, the poll gathers information on a variety of business issues, including wholesale priorities, growth challenges, and characteristics they value in digital tools.
It shows that, as compared to the previous year, 75 per cent of brands said that wholesale accounted for the same amount of business or more. A 33 per cent shift from direct-to-consumer (DTC) to wholesale was observed, with wholesale actively increasing as a share of overall revenue.
In Europe and Asia-Pacific (APAC), where almost half of the brands reported having a bigger percentage of their revenue driven by wholesale compared to last year, this trend is particularly obvious, according to Joor.
Joor adds that despite ‘natural regional differences’ in market dynamics, every firm questioned acknowledged the benefits of digital wholesale. Nearly 96 per cent of brands agreed that it saves time compared to non-digital operations, 91 per cent claimed that it improves order accuracy and offers real-time data, and another 88 per cent claimed that it gave customers better inventory visibility.
Kristin Savilia, CEO of Joor, says,“Our exclusive Joor survey illustrates an extremely buoyant global wholesale landscape. Fashion brands around the world recognise the benefits of wholesale, not only to increase sales volume but also to boost brand awareness, acquire new customers and enter new markets.”
