Since the pandemic, businesses have learned and unlearned a number of things to ensure the survival of their brands. Brands had to cancel a lot of orders due to consumers curbing their discretionary shopping in 2020. As a result, fashion retailers had excess inventory that they couldn’t sell. Now, they are preparing themselves strategically to deal with the looming economic challenges. Taylor Shupe, who co-founded the sock brand Stance and now runs the clothing manufacturing company FutureStitch, revealed that the manufacturing volume of clothing products has decreased. FutureStitch’s partners like Everlane and Crocs bought surplus inventory due to supply chain woes. With time, businesses are learning to focus more on inventory and less on gross margins as success indicators.
Full story: Glossy
