Fall Market Survey reflects the continued dominance of digital wholesale selling
NEW YORK, Aug. 03, 2021 (GLOBE NEWSWIRE) -- JOOR, the world’s leading digital wholesale platform for luxury, fashion, and home, announced that JOOR Passport will exclusively power 14 global fashion events beginning with the Copenhagen International Fashion Fair on August 9th. This marks the second consecutive year for many of these events and demonstrates that digital continues to play an important role for brands and buyers even as physical events resume. Additionally, JOOR released the findings of the company’s Fall Market Survey which offers new insights into how markets and events continue to unfold.
JOOR will support digital shows with London Fashion Week, Brazilian Footwear, Premium Group, the UK Department of International Trade, JETRO Project Japan, Taiwan Fashion Week, Fashion Week Istanbul, RAISEfashion, and the Spanish Institute for Foreign Trade, while also hosting hybrid physical and digital events with the Copenhagen International Fashion Fair (CIFF) and Cabana. JOOR will play an active role in facilitating digital order taking on-site, and will once again power each virtual show, extending the event’s time frame and geographic reach by providing access to buyers from around the world. JOOR will also continue to host JOOR Marketplace events available 365 days a year, including The Accessory Collective, Destination Italy, and JOOR Showcase.
Additionally, as part of an initiative to encourage and amplify the work of sustainable brands, JOOR is collaborating with CIFF to provide 12 sustainable brands complimentary access to JOOR. These brands will be highlighted within a sustainability section on the digital JOOR Passport event and spotlighted at the physical event in a centrally located space called CIFF "Sustain".
“We are thrilled to see our industry recovering from the global pandemic, and look forward to the return of more in-person events,” said Kristin Savilia, CEO of JOOR. “Combined with the new data we are sharing today, the announcement of these 14 global events - our biggest season to date - makes it clear that digital will continue to play a critical and growing role in the future of fashion commerce.”
To date, JOOR has hosted 40 global events on JOOR Passport, attracting more than 262,000 visitors from 149 countries, pulling together fashion's largest curated global marketplace where brands and buyers have one centralized place to meet. From the brand side, more than 4,700 brands have participated in a JOOR Passport event, with more than 810,000 items sold.
JOOR’s Fall Market Survey results clearly reveal how its brands and buyers are approaching this season. First and foremost, the return of in-person selling will continue to be complemented by virtual selling. The percentage of brands choosing a combined approach has reached 80%. An additional 19% of brands are committed to only virtual events with just one percent of brands selling exclusively in-person. The trend is similar for retailers, with 89% planning to include virtual buying, and 12% conducting only virtual appointments this season. JOOR recognizes the importance of this hybrid model and supports both virtual selling via the company’s desktop platform as well as in-person appointments through its iPad, mobile apps and custom QR codes.
As the global economy continues to recover, almost 49% of brands reported having achieved sales volume that is even with or greater than pre-pandemic - a significant lift from the 42% recorded from JOOR’s summer market survey. The market growth and flexibility offered through virtual commerce means that 33% of brands are lengthening their selling window while 53% of buyers anticipate extending their buying window. Additionally, the interest in sustainability continues to rise with nearly a third of retailers expressing interest in discovering sustainable brands this season.
JOOR is the world’s leading wholesale management platform, 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. With a commitment to fueling the advancement and growth of both brands and retailers, JOOR provides a digital ecosystem that combines dynamic virtual showrooms with collaborative tools including JOOR Passport, which centralizes the trade show experience across multiple global fashion events. JOOR users have greater flexibility, visibility, performance and insights into their business. JOOR is the exclusive platform for leading luxury conglomerates including LVMH, Kering and Richemont, as well as brands such as Balenciaga, Valentino and Saint Laurent. JOOR has exclusive partnerships with 30+ leading global retailers using the JOOR Retail Partner platform including: Harrod’s, Neiman Marcus, Harvey Nichols, Printemps, Bergdorf Goodman, Shopbop, Ssense, 24S.com, Revolve, FWD, Liberty London, Dover Street Market and Intermix. JOOR is headquartered in New York City and has offices in Los Angeles, Philadelphia, Paris, London, Milan, Madrid, Berlin, Melbourne, Tokyo and Shanghai. For more information visit: JOOR.com.