JOOR, a leading digital wholesale platform in the global fashion industry, has reported impressive growth in its 2021 end-of-year figures. The platform experienced a significant increase in the volume of wholesale transactions (GMV), with a 60% rise from 2020, resulting in an average of over $1.5 billion per month. The volume of wholesale transactions (GMV) passing through the JOOR platform increased 60% from 2020, averaging over $1.5bn per month. The number of orders placed on the platform increased 35% year over year, and the average order value (AOV) increased 59% over the prior year.
Despite a spike in virtual buying and selling at the onset of the pandemic in early 2020, brand and retailer engagement on JOOR increased even further in 2021. 400,000 new connections between brands and retailers have been completed this year to date. Rich content served to enhance the connection experience, with brands uploading almost 85% more images to JOOR than they did in 2020.
“We continue to see significant momentum in our business because we prioritize innovations that meaningfully impact the businesses of our brands and retailers,” explained Kristin Savilia, CEO of JOOR. “In 2022, we will look to build out successful offerings including a new and improved JOOR Marketplace to facilitate enhanced product discovery and our electronic payment and financing capabilities.”
Retailers were more active than ever on JOOR, particularly as it pertains to small and medium-sized businesses. As the pandemic recovery has progressed, consumers globally have increasingly chosen to shop local, as reported by Deloitte and others. JOOR’s retail accounts grew by 100,000—a 37% increase from 2020 to 2021, almost exclusively driven by boutique establishments joining the platform.
The platform’s success can be attributed to the heightened activity of retailers, especially small and medium-sized businesses. As the world continues to recover from the pandemic, consumers have shown a preference for shopping locally, a trend supported by reports from Deloitte and other sources.