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.
Gather quantitative feedback from target consumers about new seasonal lines before buyer meetings to align product and GTM teams. See how Hoka leverages MakerSights to understand consumer demand.
Collaborate with wholesalers to identify shared target consumers for new seasonal lines, ensuring insights benefit both parties. Hear how Adidas collaborates with wholesalers using MakerSights.
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.
From prioritizing consumer obsession to winning over Gen Z and creating omnichannel experiences for shoppers, these are just a few of the pressing issues covered at the 2022 WWD Retail & Apparel CEO Summit.
I was honored and excited to be asked to moderate last week’s DVF InCharge panel discussion with DVF President and CEO Gabby Hirata, Michael Kors President of Accessories and Footwear Pippa Newman, and the former Reebok GM of Global Business and Product Director for Performance Running Emily Mullins.
To provide a little insight into what’s likely coming down the pike, we’ve rounded up the recent statistics that we think retailers should keep top of mind over the next twelve months. From operational efficiencies to digital transformation to responsible fashion, here are 55 stats that we believe are key indicators of what’s to come in the new year.
