In a 2022 survey of executives at apparel, footwear, and accessories companies, 56 percent of respondents said that the product line at their company had reduced over the previous two years because there were fewer stock-keeping units within product categories at their firm. This made it the leading way companies reduced the size of their product line.
How fashion companies have reduced the size and breadth of product lines compared to two years ago, as of 2022
Apparel, footwear, and accessories executives at companies with a reduced product line compared to two years before.
Supplementary notes
The breakdown of respondents is as follows:
21 percent C-suite, 30 percent management, 32 percent top management.
12 percent wholesalers, 16 percent brands, 17 percent factories/manufacturers, 17 percent retailers (of which 34 percent were specialty stores, 27 percent department stores, 22 percent DTC or pure-play retailers.)
22 percent had apparel as their company’s primary product category, 20 percent footwear, 18 percent accessories, with the balance in fabrics, trims and fibers.
61 percent had gross sales or revenue of less than 500 million U.S. dollars, 22 percent 500 million to two billion dollars and nine percent two billion dollars or more.
The source does not provide a geographical breakdown of respondents.
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Sourcing Journal. (October 18, 2022). How fashion companies have reduced the size and breadth of product lines compared to two years ago, as of 2022 [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1360182/reasons-for-fashion-company-product-line-reduction/
Sourcing Journal. "How fashion companies have reduced the size and breadth of product lines compared to two years ago, as of 2022." Chart. October 18, 2022. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1360182/reasons-for-fashion-company-product-line-reduction/
Sourcing Journal. (2022). How fashion companies have reduced the size and breadth of product lines compared to two years ago, as of 2022. Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1360182/reasons-for-fashion-company-product-line-reduction/
Sourcing Journal. "How Fashion Companies Have Reduced The Size and Breadth of Product Lines Compared to Two Years Ago, as of 2022." Statista, Statista Inc., 18 Oct 2022, https://www.statista.com/statistics/1360182/reasons-for-fashion-company-product-line-reduction/
Sourcing Journal, How fashion companies have reduced the size and breadth of product lines compared to two years ago, as of 2022 Statista, https://www.statista.com/statistics/1360182/reasons-for-fashion-company-product-line-reduction/ (last visited December 30, 2024)
How fashion companies have reduced the size and breadth of product lines compared to two years ago, as of 2022 [Graph], Sourcing Journal, October 18, 2022. [Online]. Available: https://www.statista.com/statistics/1360182/reasons-for-fashion-company-product-line-reduction/
