Envoy B2B’s independent survey of more than 1,200 retailers has shown that there is growth within the wholesale market. More than eight in 10 (82%) of specialty retailers surveyed have seen their business grow within the last year.
“These businesses and business owners are truly at the core of local communities across the country, and in many cases are also an important economic engine,” said Rich Hill, president of Grassroots. “You have to tip your hat to the ongoing commitment of independent specialty retailers.” Since Jan. 1, 2019, Grassroots has reported a 3.6% overall growth along with a national increase of 2.53% over the last 12 months.
With this growth, retailers are looking to brands to help merchandise the best assortment of products for their stores. According to Envoy’s research, nine out of 10 retailers expect brands to provide them merchandising tools to best fit their store.
“It’s a never-ending cycle each season,” said Jon Faber, CEO of Envoy B2B. “This growth within the wholesale market is great, it’s partly fueled by brands and retailers working together to stock stores with the perfect products for their customers.” Adding the right goods in the right stores will continue to be a powerplay for brands and retailers, said Faber. “All of this is so important because success with specialty retail is only possible by getting the best-fit assortment in each store. It’s what makes specialty retail a unique challenge and opportunity,” Faber stated.
Empowering brands to provide the best fit assortment to each retailer they partner with is a big factor in Envoy B2B’s software, said the company. “When a brand uses Envoy B2B they empower retailers throughout the entire season to best fit their store through robust merchandising features, product and brand education, easy pre-book ordering, and quick replenishment,” explained Jon.
Companies such as Howler Brothers, OOFOS, and Joules are showing significant growth from focusing on this growing specialty retail market and adopting Envoy B2B’s software tools to support their wholesale channel, said the company. With it’s latest release on July 13, Envoy B2B introduces it’s Visualize feature, enabling brands to support their retail partner with the merchandising tools needed to supply the perfect product assortment to the right stores.
“Based on the research we’ve conducted, it is evident that any brand that wants a piece of this growing wholesale market needs to supply well-merchandised items that best-fit their stores,” Jon concluded.