Title: Harnessing the Surge of Independent Retail: A Guide for Fashion Brands
In the bygone era of corner shops and bespoke boutiques, independent retailers have thrived on their brick-and-mortar roots and traditional marketing strategies. Emphasizing expert curation and clientele loyalty, they've managed to weather the storms of time and emerge even stronger.
Recent studies like the 2024 PYMNTS report have highlighted a growing trend. U.S. consumers frequently select local stores, or those linked to their community, when making purchasing decisions. The pandemic actually bolstered this trend, as consumers craved human interaction, causing the demand for independent retailers to surge. Over the last five years, my company, JOOR, has observed an incredible increase in the percentage of total wholesale transaction volume attributable to independent retailers — rising from 47% to 59%. This upward trajectory is consistent across the industry.
The Advantages and Disadvantages of Independents
For many brands, the goal has always been to make it onto the shelves of big-box retailers. Yet, the appeal of independent retailers lies in two key factors:
- Independent retailers often offer more flexible agreement terms and are eager to negotiate with brands. These negotiations can encompass prices, delivery, and payment schemes, freeing up financial resources for brands to invest in product development and growth strategies.
- Customers increasingly appreciate and seek out local, sustainable options. They also enjoy the bespoke, curated, and immersive experiences independent shops can provide.
While scaling at lightning speed worldwide is challenging for independent retailers, partnering with multiple local shops can facilitate achieving high-volume and revenue targets over time. By pooling these partnerships, businesses can capitalize on their collective reach and customer bases.
Leveraging Independent Retailers for Wider Distribution
Finding and qualifying potential independent retail partners can be accomplished using traditional methods such as social media research, retail trade show attendance, and direct connections. Alternatively, technology platforms like wholesale fashion platforms can help connect brands with a vast network of independent stores, facilitating outreach and engagement with targeted retailers.
Ensure that any technology you invest in aligns with your business objectives before adopting it. Proper research will ensure that the platform can meet your specific needs and won't simply follow in the footsteps of popular brand testimonials.
When you discover your desired retail partners, either through modern platforms or traditional methods, invest time to create compelling line sheets that are easy to digest and visually appealing. Research the preferred merchandise mix of these retailers to ensure a good fit with your products and tailor your outreach to capture the retailer's interest.
As you've attracted potential retail partners, the challenge of persuading them to meet with you begins. Whether you opt for technology to expedite the process or rely on traditional strategies, the meteoric rise of independent retailers is undeniable.
Buyers are constantly seeking ways to differentiate their offerings and cater to their loyal clientele's preferences. Through the unique product curation and personalized shopping experiences pioneered by independent retailers, customers will continue to enjoy an engaging, local shopping experience hinged on community connection. By forging connections with these outstanding independent retailers, you can position your brand in front of brand-loyal consumers and grow your business.
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Kristin Savilia, a member of our Website Technology Council, shared her insights on the surge in popularity of independent retailers. She noted that JOOR observed an increase in the percentage of total wholesale transaction volume attributed to independent retailers, rising from 47% to 59% over the last five years.
In her discussion about the advantages of partnering with independent retailers, Kristin highlighted the flexibility in agreement terms and the ability to negotiate with brands, which can benefit both sides financially.
