According to industry experts, wholesale needs to accelerate its structural and strategic agility--and do it fast. In order to pull through the next 18-24 months, brands must bite the bullet and finally shift to demand-focused business models. Thankfully, ‘building resilience’ isn’t an abstract concept only a technologist can put into action. It also doesn’t have to mean a top to bottom digitization that happens in one fell swoop.
Here are five steps brands can take to boost resilience and up their agility game NOW:
1. Set your data free. The past twelve months brought us unprecedented consumer behaviors--and we can expect more unchartered territory ahead. Fast reaction time requires easy access to real-time decision-ready data. Smooth internal integrations, with centralized access to key business metrics--like those provided on JOOR--make this possible.
2. Automate for accuracy and efficiency. Data and systems integration--like those JOOR provides--allows for the automation of previously time-consuming wholesale tasks--like customized linesheet creation and order processing. Integrate to save time and improve accuracy everywhere you can. Then use this time to more thoroughly understand fast developing market conditions and creatively strategize--especially with key partners.
3. Stay involved and be accessible. Collaborate closely, clearly, and constantly--internally between departments, and externally with key suppliers and retailers. Close partnerships--those that freely share insights and that start to blur the lines between ‘back’ and ‘front’--will speed reaction time and grow options and opportunities on all sides. JOOR makes sharing insights easy with robust integration capabilities and collaboration tools.
4. Make the world your market. Now more than ever, brands need to diversify their customer base. A global digital tradeshow platform can help them take advantage of the Asian recovery and faster business recovery in other markets, no matter which route the North American market takes. JOOR Virtual Showrooms and JOOR Passport have organically built the industry’s largest curated global fashion marketplace, allowing brands and retailers from around the world to discover, collaborate and transact from any location. JOOR’s partnership with Stripe also supports invoice payments in over 135 currencies.
5 Select a responsive digital platform. To follow an innovative strategy, brands need a digital partner that actually innovates. As the largest, first, and only truly global solution in the digital wholesale platform space, JOOR has spent the past ten years listening to the industry and striving to iterate on its product in ways that will serve individual users and benefit the ecosystem as a whole. Because of this, JOOR’s approach to product development is a differentiator: JOOR consistently builds a product that jumps ahead and gets the industry’s needs solved in a better, more efficient, more streamlined, and truly inventive way. And JOOR’s ongoing commitment to partnerships with key innovators make the JOOR wholesale process even faster and more efficient. For example, seamless integrations with ORDRE and HATCH bring superior ‘look and feel’ to the JOOR Virtual Showroom experience--without adding any hassle, time investment, and/or potential inaccuracies of disconnected and/or offline processes. JOOR’s live, global 24/7 customer support rounds out the package brands need to turn volatility to opportunity.