COVID-19 has introduced an altogether new plan for wholesale businesses by forcing brands and retailers to quicken their digital strategies and this can be seen through the information JOOR has provided. JOOR, the world’s driving digital wholesale stage for fashion, delivered its development figures for the second 50% of 2020.
After markets and businesses were forced to closed down during Covid-19 lockdowns, the business owners had no other choice but to make use of the virtual channels that were available to stay afloat for their business. Taking a gander at the second half of the 2020 and comparing it with the second half of 2019, both gross merchandise value (GMV) and average order value (AOV) going through the JOOR stage expanded 52% and 57% separately.
“The COVID-19 pandemic has upended the retail industry,” said Kristin Savilia, CEO of JOOR. “However, it has also served as a call to action for brands and retailers to find digital ways to work together. This is a new way of doing business that will continue even when in-person contact is possible again because it is convenient, sustainable and cost-effective.”
Back in 2019, the trend of Virtual fashion shows was not that much but these types of fashion shows gained attention in 2020. Especially in the summer and fall fashion season, JOOR facilitated 16 worldwide events on its JOOR Passport platform, pulling in excess of 135,000 guests from 128 nations. From a brand’s viewpoint, 1628 brands participated in a JOOR Passport event where they averaged 15 new connections per event and sold more than 470,000 items.
