KUALA LUMPUR, Dec 8 (Bernama) -- JOOR, the world’s leading digital wholesale platform has released its end-of-year figures for 2021.
These data points confirm the continued acceleration of digital adoption among brands and retailers, and that even with the return of in-person markets and events, electronic B2B commerce continues to play an important and ever increasing role in the fashion ecosystem.
In light of evolving supply chain uncertainty, the real-time insights delivered by the JOOR platform proved especially critical to both brands and retailers in 2021. The volume of wholesale transactions (GMV) passing through the JOOR platform increased 60 per cent from 2020, averaging over US$1.5bn per month. (US$1 = RM4.222)
The number of orders placed on the platform increased 35 per cent year over year, and the average order value (AOV) increased 59 per cent over the prior year.
“We continue to see significant momentum in our business because we prioritise innovations that meaningfully impact the businesses of our brands and retailers,” explained JOOR CEO, Kristin Savilia in a statement.
“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.”
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, with the completion of 400,000 new connections between brands and retailers this year to date.
Rich content served to enhance the connection experience, with brands uploading almost 85 per cent more images to JOOR than they did in 2020.
Retailers were more active than ever on JOOR, particularly as it pertains to small and medium-sized businesses. JOOR’s retail accounts grew by 100,000—a 37 per cent increase from 2020 to 2021, almost exclusively driven by boutique establishments joining the platform.
-- BERNAMA
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