The Relevance of Marketplaces for Wholesale Brands
by Sever GarciaAugust 28, 2020
Today fashion #wholesale brands are facing several challenges, one the the biggest is that they don't know how many clients they are going to have the following season: Trade Shows are cancelled and several of their clients may not re-open. Industry experts are recommending them to move to Direct-To-Consumer strategies, which I agree, although it takes time. On the other hand we all see how #marketplaces are expanding: #Amazon is more relevant than ever, #Farfetch is growing on Q1 2020, and as an additional example, Vee Pee (Vente-Privee) announced today a projected +10% in sales this year in Europe. I would like to add an additional ingredient: for some product categories (#apparel, most fashion accessories, etc.) and for some consumer groups (Baby Boomers for example) online is not so relevant, then digital #marketplaces are an alternative, but maybe not enough. HiO, our retail platform, is an omni-channel #marketplace, and potentially a solution for some brands. We are happy to explore new products as we are expanding.