In a positive sign that the global fashion sector is firmly in post-pandemic recovery mode, a new survey from leading wholesale management platform JOOR has revealed that 90% of surveyed brands intend to present their new SS22 collections this summer, and 92% of buyers said they will be attending buying appointments.
However, the survey found that the summer season will reflect the “new normal” with both brands and buyers preferring a hybrid model of virtual selling supporting in-person buying appointments. In fact, a whopping 98% of brands will use virtual selling this summer, with 89% of retailers saying they will be using virtual buying.
Kristin Savilia, CEO of JOOR, commented: “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.
“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 complete report, entitled “JOOR – How Brands and Retailers are Approaching Market this Summer”, also reveals that 42% of fashion brands reported they are achieving sales volumes that are the same as, or greater than, pre-pandemic levels.
The market survey includes responses from over 500 global fashion brands and retailers, and it also discovered that 85% of buyers surveyed have a medium or high interest in discovering new brands. The appetite for newness is supported by the fact that 86% of retailers have less than half of their inventory as carryover styles, indicating an interest in offering their customers new styles and trends.
JOOR is the world’s leading wholesale management platform for luxury, fashion and home with over $1.5bn in wholesale transactions processed every month. More than 12,500 brands and over 325,000 curated fashion retailers across 144 countries connect on the platform every day.
The platform provides a “digital ecosystem” that combines dynamic virtual showrooms with collaborative tools including JOOR Passport, which centralises the trade show experience across multiple global fashion events.
JOOR is the exclusive platform for leading luxury companies including LVMH, Kering and Richemont, as well as brands such as Balenciaga, Valentino and Saint Laurent. The platform also has exclusive partnerships with 30-plus leading global retailers using the JOOR Retail Partner platform, including Harrods, Harvey Nichols, Liberty London, Dover Street Market, Bergdorf Goodman, Printemps and Intermix.
The company is headquartered in New York City and has offices in Los Angeles, Philadelphia, Paris, London, Milan, Madrid, Berlin, Melbourne, Tokyo and Shanghai.