Fashion brands, retailers to continue to sell and buy virtually: Joor report
The global fashion sector is firmly in post-pandemic recovery mode, with the majority of global fashion brands and retailers expected to opt for hybrid virtual selling models to support in-person appointments this summer.
According to a survey by Joor, a leading wholesale management platform for luxury, fashion and home, 90 percent of surveyed brands said they will present new collections this summer and 92 percent of buyers said they will be attending buying appointments in the same period, showcasing post-pandemic recovery mode.
Still, as we enter the SS22 selling season, global fashion brands and retailers will continue to sell and buy virtually again this summer. A significant 98 percent of brands said they will use virtual selling this summer, while 89 percent of retailers said they will be using virtual buying.
Likewise, the survey revealed that 85 percent of buyers have a medium or high interest in discovering new brands at the moment. This appetite for newness is supported by the fact that 86 percent of retailers have less than half of their inventory as carryover styles.
As the industry comes back to life, almost half of fashion brands (42 percent) reported they are achieving sales volumes that are even with or greater than pre-pandemic levels.
“Amidst the many challenges of the past year, the fashion industry has demonstrated its flexibility and fortitude - rapidly adjusting ways of doing business and accelerating digital adoption,” said Kristin Savilia, CEO of Joor.
“While brands and retailers are keen to return to in-person showroom appointments, neither group is willing to give up the efficiency and extended reach of virtual selling. This new hybrid approach is why we see clients using Joor to support both physical appointments via our iPad app and virtual selling via our cloud-based desktop platform.”
The survey included responses from over 500 global fashion brands and retailers.
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