Latest news with #SpringMarketSurvey2025
Fashion Network
01-05-2025
- Business
- Fashion Network
Own goal? Foreign brands plan to sidestep tariffs and cut back US exposure says JOOR
Given that the tariffs are part of President Trump's strategy to encourage more manufacturing in the US, it's interesting that 54% of US brands aren't planning to make changes to their supply chains to increase domestic production. It's also interesting that 76% of non-US brands are changing their selling strategies and prioritising partnering with retailers outside the US. JOOR transaction data reveals that non-US brands conducting business with American retailers on average generate 20% of their sales from the US market. A significant 21% of these brands are extremely exposed to the US market, driving more than half of their sales from the American fashion wholesale channel. It seems that for the majority of brands — whether they're US-based or not — the favoured options are raising prices or seeking other markets rather than making disruptive changes to well-established supply chains. As for retailers, the survey data shows 75% of non-US retailers planning to decrease their investment in US brands, which could mean the tariff stagey being a major own goal as far as boosting the export trade from the US is concerned. Not that it's all negative from the viewpoint of US brands in terms of what's sold within the country. Some 45% of US retailers said their investment in US brands will remain unchanged, but a higher 49% confirmed their plan to increase investment in domestic brands. The boost this latter percentage might deliver to American brands can be seen from before and after intentions. Before the tariff announcement, JOOR's Spring Market Survey 2025 asked retailers about their investment in international brands, with 47% confirming that they were increasing investment in them. Post-tariff announcement, this sentiment 'dramatically shifted' with only 20% of retailers now planning to increase such investment. Amanda McCormick Bacal, SVP of Marketing at JOOR, said that 'concern over recently announced tariffs is causing significant flux within the global fashion industry. Brands preparing for market report plans to increase prices, source from alternate countries, and produce tighter collections. Retailers are similarly adjusting their buying strategy and looking to nurture new brand partnerships to help mitigate the impact of tariffs'.
Fashion Network
01-05-2025
- Business
- Fashion Network
Own goal? Foreign brands plan to sidestep tariffs and cut back US exposure says JOOR
Given that the tariffs are part of President Trump's strategy to encourage more manufacturing in the US, it's interesting that 54% of US brands aren't planning to make changes to their supply chains to increase domestic production. It's also interesting that 76% of non-US brands are changing their selling strategies and prioritising partnering with retailers outside the US. JOOR transaction data reveals that non-US brands conducting business with American retailers on average generate 20% of their sales from the US market. A significant 21% of these brands are extremely exposed to the US market, driving more than half of their sales from the American fashion wholesale channel. It seems that for the majority of brands — whether they're US-based or not — the favoured options are raising prices or seeking other markets rather than making disruptive changes to well-established supply chains. As for retailers, the survey data shows 75% of non-US retailers planning to decrease their investment in US brands, which could mean the tariff stagey being a major own goal as far as boosting the export trade from the US is concerned. Not that it's all negative from the viewpoint of US brands in terms of what's sold within the country. Some 45% of US retailers said their investment in US brands will remain unchanged, but a higher 49% confirmed their plan to increase investment in domestic brands. The boost this latter percentage might deliver to American brands can be seen from before and after intentions. Before the tariff announcement, JOOR's Spring Market Survey 2025 asked retailers about their investment in international brands, with 47% confirming that they were increasing investment in them. Post-tariff announcement, this sentiment 'dramatically shifted' with only 20% of retailers now planning to increase such investment. Amanda McCormick Bacal, SVP of Marketing at JOOR, said that 'concern over recently announced tariffs is causing significant flux within the global fashion industry. Brands preparing for market report plans to increase prices, source from alternate countries, and produce tighter collections. Retailers are similarly adjusting their buying strategy and looking to nurture new brand partnerships to help mitigate the impact of tariffs'.
Fashion Network
01-05-2025
- Business
- Fashion Network
Own goal? Foreign brands plan to sidestep tariffs and cut back US exposure says JOOR
Given that the tariffs are part of President Trump's strategy to encourage more manufacturing in the US, it's interesting that 54% of US brands aren't planning to make changes to their supply chains to increase domestic production. It's also interesting that 76% of non-US brands are changing their selling strategies and prioritising partnering with retailers outside the US. JOOR transaction data reveals that non-US brands conducting business with American retailers on average generate 20% of their sales from the US market. A significant 21% of these brands are extremely exposed to the US market, driving more than half of their sales from the American fashion wholesale channel. It seems that for the majority of brands — whether they're US-based or not — the favoured options are raising prices or seeking other markets rather than making disruptive changes to well-established supply chains. As for retailers, the survey data shows 75% of non-US retailers planning to decrease their investment in US brands, which could mean the tariff stagey being a major own goal as far as boosting the export trade from the US is concerned. Not that it's all negative from the viewpoint of US brands in terms of what's sold within the country. Some 45% of US retailers said their investment in US brands will remain unchanged, but a higher 49% confirmed their plan to increase investment in domestic brands. The boost this latter percentage might deliver to American brands can be seen from before and after intentions. Before the tariff announcement, JOOR's Spring Market Survey 2025 asked retailers about their investment in international brands, with 47% confirming that they were increasing investment in them. Post-tariff announcement, this sentiment 'dramatically shifted' with only 20% of retailers now planning to increase such investment. Amanda McCormick Bacal, SVP of Marketing at JOOR, said that 'concern over recently announced tariffs is causing significant flux within the global fashion industry. Brands preparing for market report plans to increase prices, source from alternate countries, and produce tighter collections. Retailers are similarly adjusting their buying strategy and looking to nurture new brand partnerships to help mitigate the impact of tariffs'.
Fashion Network
01-05-2025
- Business
- Fashion Network
Own goal? Foreign brands plan to sidestep tariffs and cut back US exposure says JOOR
Given that the tariffs are part of President Trump's strategy to encourage more manufacturing in the US, it's interesting that 54% of US brands aren't planning to make changes to their supply chains to increase domestic production. It's also interesting that 76% of non-US brands are changing their selling strategies and prioritising partnering with retailers outside the US. JOOR transaction data reveals that non-US brands conducting business with American retailers on average generate 20% of their sales from the US market. A significant 21% of these brands are extremely exposed to the US market, driving more than half of their sales from the American fashion wholesale channel. It seems that for the majority of brands — whether they're US-based or not — the favoured options are raising prices or seeking other markets rather than making disruptive changes to well-established supply chains. As for retailers, the survey data shows 75% of non-US retailers planning to decrease their investment in US brands, which could mean the tariff stagey being a major own goal as far as boosting the export trade from the US is concerned. Not that it's all negative from the viewpoint of US brands in terms of what's sold within the country. Some 45% of US retailers said their investment in US brands will remain unchanged, but a higher 49% confirmed their plan to increase investment in domestic brands. The boost this latter percentage might deliver to American brands can be seen from before and after intentions. Before the tariff announcement, JOOR's Spring Market Survey 2025 asked retailers about their investment in international brands, with 47% confirming that they were increasing investment in them. Post-tariff announcement, this sentiment 'dramatically shifted' with only 20% of retailers now planning to increase such investment. Amanda McCormick Bacal, SVP of Marketing at JOOR, said that 'concern over recently announced tariffs is causing significant flux within the global fashion industry. Brands preparing for market report plans to increase prices, source from alternate countries, and produce tighter collections. Retailers are similarly adjusting their buying strategy and looking to nurture new brand partnerships to help mitigate the impact of tariffs'.
