Expansion in the global fashion market: Key trends to stay ahead of in 2023

The last few years have seen many challenges for the global fashion industry. The good news is that fashion brands have adapted to these changes to become more agile and resilient. This will enable them to confront any obstacles the industry throws at them. 

So what market trends are fashion brands likely to face over the next 12 months? And what can brands do to stay on top of these trends in order to continue expanding globally? Overall, there will be a need for brands to focus on their retailers, respond to their customers’ enthusiasm for environmental issues and onboard the right technology.

Let’s take a closer look at some of our suggestions on how fashion brands can stay head of the game in 2023:

Build stronger relationships with retail partners

It is fair to say that the pandemic was a real test for supplier-retailer relations and it highlighted the importance of having strong and trusting relationships to be able to weather unexpected storms. With the current market changes, it is more important than ever for brands to form strong and mutually beneficial relationships with their retail partners. Having open and honest communication will build transparency and trust. A relationship based on shared values and understood business objectives will also have an easier time adapting to change.

Offer them the best products, marketing and customer support and be flexible when necessary. Building good relations will help both retailers and fashion brands withstand the turbulence of any future disruptions.

Reduce a brand’s eco footprint

Whilst it has been a topic of conversation for a few years now, one of the largest trends that is expected to be big in 2023 is the increase in sustainability in products and brands. Consumers are now much more eco-conscious and value brands that take action. This trend is expected to grow rapidly this year, making it one of the best ways to gain new customers and retain current ones. 

However, brands must be careful to avoid “greenwashing”, and so need to be able to show how they are making meaningful and credible changes.

What’s more, brands in the fashion industry should consider taking advantage of the resale or re-commerce market, which is expected to explode. 

Invest in data and technology

These days, confronting challenges with the right technology will be key to a fashion brand’s future success. If a brand’s digital channels cannot support a buyer’s needs, then that buyer is likely to give up and turn to a competitor.

Fashion brands need to invest in tools that allow them to quickly process orders, collect payments faster and gather lots of useful data, which they can then use for quality insights and decision-making.

A sales tool with an intuitive interface and integrated solutions will give brands a competitive edge in 2023. These technologies will be able to save buyers time, automate tasks, offer products in foreign currencies, and provide a seamless ordering process.

BLANC is an online B2B platform and a management tool built for the future of the fashion, art, and lifestyle industries. Trusted by thousands of brands and retailers worldwide, BLANC provides brands with the cutting-edge tools to conduct their wholesale business smoothly and professionally. Buyers from all over the world can use our platform to review collections, download linesheets, and place orders directly with brands.

If you are a fashion brand looking to stay ahead of the key trends and expand your business globally in 2023, request a demo with our team today.