Apart from offering convenience, the rise of online wholesale ordering has provided a wealth of data and, combined with survey results, can offer major pointers to what’s happening right now in the fashion sector.

And a new report and survey from digital wholesale specialist JOOR has identified several key trends for 2024. 

One is that buyers are more price-conscious than ever at present. Others show that they’re being adventurous in some areas even in tough times with a desire for newness being a feature of their decision-making. But alongside that desire for newness is a more conservative approach that sees many opting to buy proven pieces and/or keeping their ‘new brands’ budget relatively small.

Global retailers are selecting wholesale products at lower price points, JOOR’s data has shown. 

The average price per unit ordered on the platform in Q1 was down 8% year on year, even with prices generally being higher due to ongoing inflation.

The drop was recorded across all global markets, but was most notable in EMEA (-8%) and North America (-7%), while in APAC the average price point purchased reflected less of a decline (-3%).

“In the face of a challenging retail environment, competitive price points have gained importance,” the company said. “Intuitively, offering a lower price point has increased in buyers’ priorities, with 29% of buyers’ citing this as an important factor in evaluating brands versus 25% last year”.

It also said that brands are “making adjustments to optimise their business investments, such as decreasing the sizes of their collections”.

The firm’s Q1 data indicates an average reduction in SKUs per collection of 14% and a decrease in SKUs per brand of 19% compared to last year. Brands are also prioritising “evergreen bestsellers” and 20% of brands chose to show an evergreen collection this spring, versus 15% last year.

Interestingly too, as mentioned, JOOR’s seen “reordering of proven products, reflecting a conservative approach to testing styles before expanding. Reorders have been steadily on the rise over the past five years, growing from 24% of total orders in 2019 up to 34% of total orders in 2023. This shift is particularly pronounced in enterprise department stores, where in 2023, 46% of orders consisted of reorders of proven styles versus only 30% for smaller boutiques”. 

Similarly, testing out new brands with small initial orders before expanding has become “commonplace”. In fact, nearly 90% of retailers surveyed reported using this test-and-grow approach in order to gauge consumer response before committing to a larger order.

Retailers are also holding less carryover inventory with 59% having less than a quarter of their assortment as carryover inventory, up from 49% last year. This is all reflective of a more cautious approach to buying.

But as a contrast, 62% of buyers reported having open-to-buy budgets for spring equal to or greater than last year. They remain interested in discovering new brands with 84% of buyers citing medium/high interest in discovering them. 

Also key is that “interest in sustainability has re-emerged among buyers”, with the percentage seeking sustainable brands increasing from 27% last year to 32% this year.

Also, 75% of brands reported that their sales volume was equal to or greater than last year, with 49% touting an increase in their international business.