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Published
Feb 10, 2023
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Joor market survey highlights buyer newness demand... and brand caution

Published
Feb 10, 2023

There's a strong desire for newness among buyers for SS23 but by contrast, many brands are being cautious and offering carryover inventory for the season.


Joor


That’s according to the spring market survey from online wholesale giant Joor.

It explained that the results of its survey show “international optimism” via that push for newness (especially in APAC), even if it is going head to head with the desire to reduce risk.

The company conducts a bi-annual survey of its global audience of fashion brands and retail buyers “to take the temperature of the fashion wholesale market and sense-check brand/buyer intentions for the new season”.

Looking at the results in more detail, Joor said that 88% of global buyers have an interest in discovering new brands at this moment, which is a steady increase over the last few seasons. This drive is more elevated in APAC where 94% of buyers are looking for new brands after a period of overall caution.

That perhaps makes sense because, despite predictions of economic slowdown, there’s plenty of pent-up desire for change post-pandemic and a willingness to move on from what’s been a traumatic few years globally.

But as mentioned, this is running in parallel with the exact opposite with caution still a major factor within brands.

Joor said 31% of brands have been indicating that they'll be offering carryover inventory for the season, up from 22% this time last year. 

“This caution is underlined by sales windows extending,” it added. “Thirty one percent of brands will extend their selling windows to accept orders closer to delivery as they look to maximise sales. Additionally, 53% of buyers anticipate extending their buying windows to place orders later in the season, allowing them time to respond to trends and potential consumer spending fluctuations”.

And while the trend is most pronounced in North America, it’s growing across EMEA and APAC.

Other key trends include the overall growth in cross-border orders. Some 72% of brands have international business that’s the same or greater than last year, while 75% of buyers say their investment in international brands has maintained or increased over the last year.

Also important is the return to face to face selling, although many are still making virtual appointments and these days they’re also combining in-person selling with tech. “More fashion brands are planning ‘in real life’ showroom appointments” than were doing so a year ago, Joor said. “Of those brands hosting in-person appointments, 81% will do so in their showrooms, an increase from 73% in Fall 22”.

CEO Kristin Savilia highlighted the contradictions in the trends: “The latest survey illustrates an interesting juxtaposition in the global fashion wholesale market. Buyers around the world are looking for newness and the majority are entering market with open-to-buy budgets up from last year. However, the uncertain global economic climate is leading to a more cautious approach from fashion brands, as exemplified by increasing levels of carry-over and evergreen product. What remains consistent is the hybrid approach to market which has quickly become the norm—with brands and buyers opting to leverage both in-person and virtual appointments to place orders this season.”

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