Wholesale transactions are on the rise, and independent retailers are leading the charge, according to digital wholesale management platform Joor.
The firm has released a new list of leading global independent retailers based on data showing marked increases in order volumes. The “Joor 100: Top Global Retailers 2024” list includes retailers from 26 countries across the globe, from North America (59 percent) to Europe, the Middle East and Africa (31 percent) and Asia Pacific (10 percent).
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Over the past five years, the percentage of total wholesale transaction volume Joor attributes to independents grew from 47 percent to 59 percent. Between 2019 and 2024, independent boutiques have played an outsized role in the expansion of the fashion industry at large, analysts wrote.
That phenomenon is taking shape in all markets, the group’s data showed. For example, the percentage of transactions credited to independents saw a 16-point uptick in EMEA, from 58 percent in 2019 to 74 percent in 2024. In North America, independents accounted for 40 percent of wholesale transactions in 2024, up from 31 percent five years ago. During the same period, APAC independent retailers saw a similar rate of growth, from 67 percent to 76 percent.
Taking into account metrics from the 100 retailers assessed and featured in the report, Joor reported that the average number of orders placed increased by more than one-quarter (26 percent) compared to the previous 12-month period. Meanwhile, shoppers are spreading out the spend; during the same period, the average number of brands purchased expanded by 20 percent.
According to Joor, this year’s list aimed to spotlight the upstarts, entrepreneurs and small businesses that have shown “exceptional commercial resilience” in the face of global economic headwinds and fluctuations in consumer sentiment and spending.
The list, which pulled retailers from Joor’s network of more than 650,000 buyes and 14,000 brands, took into account the breadth of an independent retailer’s brand assortment, its order growth, its overall order volume and its efforts to create new brand connections.
Highlighted retailers included Madison Los Angeles, Marissa Collections in Naples, Fla., Meridian Boutique in Bozeman, Mont., Joan Shepp in Philadelphia, Penn. and ESSX in New York, N.Y.
“We are thrilled to announce the first annual Joor 100: Top Global Retailers list, celebrating notable retail establishments who have achieved success through their creative vision, commercial prowess, and customer-centric approach,” Joor senior vice president of marketing Amanda McCormick Bacal said.
“Highlighting the power of Joor in helping facilitate global connections between buyers and brands, The Joor 100 recognizes the vibrancy of international independent retail and we congratulate all of this year’s honorees.”
The findings are in keeping with other research about the impact of wholesale and independent retail; earlier this year, wholesale buying platform NuOrder released its annual Study of Wholesale showed that brands are doubling down on wholesale relationships, believing that such partnerships represent the “most profitable investment channel.” On average, brands reported that wholesale accounted for 60 percent of total sales, with independent, specialty and boutique retailers making up 45 percent of wholesale business.
