Wholesale Sales Unleashed: Unlocking Success in 3 Steps
July 14, 2023
As footwear and apparel brands turn back to wholesale to find growth, many are being met with a frosty reception from retailers. According to Bloomberg, brands are witnessing a substantial decline in new orders, and the apparel imports have dropped by 30% in the first four months of 2023 compared to the previous year.
Dan Leahy, the CEO of MakerSights, shared his perspective with Bloomberg on the state of the wholesale market and the factors contributing to this decline. Leahy attributes much of the softening in demand to retailers' concerns about their inventory levels relative to the demand signals they are receiving from consumers.
To meet growth goals within this challenging environment, brands are looking for any edge they can find, and MakerSights partners are gaining that edge through retail-ready insights built for the wholesale sell-in process.
Test new products against retailers current assortments to see which products deserve shelfspace alongside (or in place of) the competition.
Eager to learn how wholesalers are reacting to this data-driven approach? Just ask Nordstrom, REI, Walmart, Target, Macy’s and DSG who are all using the insights generated by MakerSights to guide adoption decisions.
Jim Biolos, President of Faryl Robin Footwear, has set a best in class example on how to use MakerSights to foster collaboration with wholesalers.
"MakerSights has transformed the strategic conversations we have with our retailer clients [enabling] us to work collaboratively with the merchants at our retailer clients — so that what they do buy is supported by the voice of the consumer and is the result of a rich set of discussions about a range of styles."
"MakerSights data is helping us and our retail partners become better product developers and merchants. It has enabled the kinds of discussions that result in a deeper collaboration about the shoes we design for them and the items that will best achieve their merchandising goals. MakerSights has been instrumental in taking our retailer partnerships to the next level.” - Jim Biolos
The road ahead in retail will be challenging for many brands. But by partnering with MakerSights, brands are deepening their relationships with their key retailer partners, and helping drive adoption decisions that ultimately best serve the consumer, the retailer, and the brand.
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