New Data Signals Fashion Is ‘On the Road to Recovery’
NuOrder and Informa Markets Fashion, which collectively launched several digital marketplaces under Informa Markets Fashions’ brands in early September, said the events’ initial activity was “outstanding.”
Data for the digital marketplaces of MAGIC, Coterie, Project, MICAM Americas, and Children’s Club showed a consecutive uptrend in attendance with strong participation, a high volume of retail-to-brand connections and deep engagement, signaling thriving community
connectivity and indicators of acceleration in fashion commerce, Informa said. Despite the challenges instigated by Covid-19’s economic slowdown, Informa Markets Fashion’s digital marketplaces, powered by innovative virtual showroom technology from the NuOrder platform, have re-engaged the fashion tra
de community and are driving the regrowth of commerce during a critical buying season, the organizer said.
Within the first 30 days of Informa Markets Fashion’s digital trade event, which launched on Sept. 1, 55,000 new connections between brands and retailers were made, indicative of the industry’s eagerness to jumpstart business following a steep decline stimulated by the pandemic months earlier. 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. At present, the event now hosts close to 20,000 retailers from more than 78 countries, demonstrating a steady and healthy uptick in new registrations since event launch.
“The rapid adoption of the platform signals that the industry has welcomed the paradigm shift and is embracing digital tools to conduct its businesses more collaboratively, efficiently and effectively,” said Heath Wells, co-founder and co-CEO of NuOrder.
With an average of 33 minutes spent in-platform per user, retail buyers are demonstrating deep engagement with the platform’s tools and capabilities, like NuOrder’s Virtual Showroom. This key feature allows participating brands to showcase and sell products to buyers in a customized, immersive, 360-degree experience. In addition to NuOrder’s intuitive platform technology, Informa Markets Fashion’s digital event showcases 68 editorial content articles featurin
g 304 brands and more than 30 educational programming videos and guides across all five marketplaces to date.
“The power of NuOrder’s B2B ecommerce 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,” Nancy Walsh, president of Informa Markets Fashion, said. “We have delivered a first-of-its-kind digital B2B event that is s
olving 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.”
Given high adoption of the new event environment, Informa Markets Fashion 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.
NuOrder is a leading wholesale e-commerce platform, headquartered in Los Angeles, with offices globally. Informa Markets’ portfolio is comprised of more than 450 international B2B events and brands in markets including fashion and apparel, healthcare and pharmaceuticals, infrastructure, construction and real estate, hospitality, food and beverage, and health and nutrition.