Technology is pushing demand for faster production and delivery
The ‘need for speed’ is evident in the fashion business. Technology and consumer trends are its main drivers. It presents both threats and opportunities. If you want to sell high volumes, you can use IT solutions that will speed up your ordering, production and delivery processes. You may also choose to avoid the speed trend, focusing on slower fashion with higher margins.
European buyers in the fast fashion segment will tend to cut down on suppliers to gain speed. Instead of having many different suppliers, they will want to invest in stronger relationships. If you are in such a relationship, you will benefit from more stable business. But your buyer will also expect you to show more goodwill and to move faster.
Buyers will also seek out factory owners who are willing to take time to discuss needs, wants and options aimed at more speed. This can cost time, but it means fewer difficulties when problems have to be solved. These buyers will see you as a partner and want to share their dream with you, as shared passion, again, will accelerate things.
Another way of speeding up production is to simplify designs. This is an option European buyers will also be looking for.