In some ways, the wholesale business is a numbers game. Brands must keep a constant and careful eye on inventory levels. Too little on-hand inventory means missed opportunity for sales; too much means your resources are tied up in depreciating assets. Fashion adds layers of complexity to that delicate balance, as seasonality and exclusivity weave through to influence sales and trends.
But fashion seasons are changing in new and interesting ways. That’s one of the key insights in our Fall Market Survey, which is full of eye-opening feedback from our extensive network of retailers and brands around the globe. One major point of commonality: the selling window is being extended everywhere.
There’s more fluidity to the market season than ever before. Retailers are changing both how and when they buy. Significantly, 53% of wholesale buyers are extending their buying window later into the season. This shift is most pronounced in North America where 55% of buyers are planning to buy later, but the extension of the buying season is a growing trend across the Asia-Pacific and EMEA (Europe, Middle East, and Africa) regions as well.
Unsurprisingly, brands are working hard to match the trend. 39% of brands around the world are lengthening their selling window, up from 33% last year. While this would have been quite challenging in the past, JOOR’s digital wholesale management platform helps brands extend this type of flexibility to their buyers by enabling year-round selling 24/7.
Brands are no longer restricted to a short market week and can engage with clients as opportunity arises. In addition to selling a new collection six months in advance, brands are able to promote what is available to sell in stock—showcasing their current inventory while planning for the future.
Digitizing the wholesale buying and selling process opens the door to both maximizing future sales as well as moving more inventory in real time. As buyers are looking to fill their shelves, JOOR makes it easy for brands to connect with retailers anywhere in the world. Those connections lead to long-lasting relationships: 58% of brands report that retailers who connect with them and place an order through JOOR will also re-order.
With sophisticated virtual showrooms that are customizable, dynamic, and completely shoppable, JOOR’s intuitive platform empowers brands to facilitate reorders throughout the season and the entire year. Brands can use next-gen video and image capabilities to highlight their current inventory, while real-time analytics and flexible reporting give brands the ability to keep their fingers on the pulse of their inventory at all times.
Such advanced tools allow brands to sell in-season inventory at will. As retailers expand their buying periods, smart brands are able to offer the perk of immediate fulfillment. No longer restricted to a narrow selling window that closes quickly, brands can choose to highlight current available-to-sell inventory, showcasing specific pieces and moving excess with special promotions.
Working with JOOR enables brands to maximize the productivity of their inventory, even as buying trends change. Not only are high sell-throughs desirable from a profit margin perspective, they also reduce waste and give brands a chance to meet and exceed their sustainability goals. That’s something everyone can be happy about.
Are you ready to extend your selling season and move your inventory? Request a demo today!