As we navigate through 2024, many entrepreneurs anticipate a downturn in the leather fashion industry, expecting the first half of the year to witness a decrease in turnover compared to 2023.
The persistent issue of overstocking, especially in fashion and apparel, continues to plague the market. This, coupled with inflation and geopolitical tensions, has significantly altered consumption patterns.
In such a volatile environment, it’s perplexing to see buyers hesitant to evaluate more suppliers. The complacent mindset of “I AM SATISFIED WITH MY CURRENT SUPPLIER” could signal the downfall for brands that resist innovation and adaptation.
Now, more than ever, it’s crucial for businesses to reassess their supply chains, explore new partnerships, and embrace sustainable practices to stay resilient and competitive.