NuOrder and Informa Markets Fashion reported on Thursday that it has seen a “consecutive uptrend in attendance, high volume of retail to brand connections, and deep engagement, signaling thriving community connectivity as well as indicators of acceleration in fashion commerce” at its digital trade events.
According to new data, within the first 30 days of Informa Markets Fashion’s digital trade event, which launched on September 1st, 55,000 new connections between brands and retailers were made. The new data also shows that retail buyers are spending an average of thirty-three minutes of time per user each time they visit the platform, where they are engaging with the platform’s tools and capabilities.
The digital marketplaces of MAGIC, Coterie, Project, MICAM Americas, and Children’s Club collectively showcased 1,100 brands across 1,350 digital showrooms and opened with 15,000 registered qualified retailers. As of today, the event now hosts close to 20,000 retailers from over 78 countries, demonstrating a steady and healthy uptick in new registration since the event launched.
“The rapid adoption of the platform signals that the industry has welcomed the paradigm shift and are embracing digital tools to conduct their businesses more collaboratively, efficiently, and effectively,” said Heath Wells, co-founder and co-CEO of NuOrder.
“We have always looked at technology as a driving force and solution for the advancement of wholesale commerce,” added Olivia Skuza, co-founder and co-CEO of NuOrder. “With COVID-19, demand for digital market tools and more robust technology accelerated the need, however, early show metric indicators from Informa Markets Fashion digital events show how digital adoption is quickly answering immediate needs as well as how the fashion B2B landscape can be better augmented in the future.”
Given the adoption of the new event environment, Informa Markets Fashion said that it is discovering that a more data-driven approach is a beneficial way forward for both buyers and sellers to connect and conduct business. This coupled with product curation, increased discoverability of new brands, and timely educational programming, as shown by initial data, has created a differentiated and valuable digital marketplace that is resonating with the industry. The data shows that the fashion wholesale sector is adapting, reforming, and recovering as we move into the end of 2020 and into 2021.
“The power of NuOrder’s B2B e-commerce technology, combined with the strength of Informa Markets Fashion’s retailer and brand communities and expertise in targeted marketing and content has made for a fruitful partnership,” commented Nancy Walsh, president of Informa Markets Fashion. “We have delivered a first-of-its-kind digital B2B event that is solving an immediate industry need and the engagement we’re seeing on the platform is telling us that what we have delivered is really resonating with the industry. Most importantly, the positive preliminary data is showing that our brands and retailers are continuing commerce this season, which signals that the industry is likely on the road to recovery.”