JOOR data shows Chinese buyers returning to wholesale, especially in Europe
New data from digital wholesale management ecosystem JOOR has shown that Chinese fashion buyers are becoming increasingly active again.
It has logged a “significant rise in the number of Chinese retailers placing wholesale orders and an associated increase in transaction volumes for the FW23 selling season”.
Looking at figures from the start of February to 16 March, it said the number of China-based retailers placing orders was up 33% year on year and wholesale transaction volumes on JOOR from China-based retailers were significantly higher at (+61%), compared to last year.
And in particular they’ve been buying from European brands. JOOR said it has seen a 58% rise in China-based retailers buying from European names.
Not that other global regions have been declining, but their increases aren’t as big. China-based retailers buying North America-based brands have risen 12% and APAC-based brands rose 7%.
There was also an influx of Chines buyers returning to international fashion weeks, especially Milan and Paris.
The company’s CEO, Kristin Savilia, said: “Since Covid-19 restrictions were lifted, Chinese retailers have been flooding back to the fashion calendar, and we have noticed a significant increase in the number of China-based retailers ordering and the increasing size of their orders, particularly for European-based brands. The Chinese market is expected to be a growth engine for the luxury fashion industry this year, and JOOR’s exclusive data clearly illustrates this trend for the forthcoming FW23 season.”
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