2024 STATE OF THE INDUSTRY SOURCING
Get an advanced glimpse at the sourcing opportunities and
obstacles presented in the report...
Two trends are currently defining the landscape of sourcing: DISRUPTION and DIVERSIFICATION. Challenges such as ocean freight capacity constraints, staffing shortages, and evolving global manufacturing opportunities are intensifying the complexities faced by the industry.
However, by illuminating these factors, this report equips you with the knowledge needed to sustain resilient and efficient supply chains.
MEXICO: COST - FRIENDLY AND CLOSE TO HOME
Mexico made headlines in February, stealing China’s crown to become America’s biggest export partner, according to U.S. government data. Mexico sent $475.6 billion worth of goods onto U.S. soil in 2023, a healthy $20.8 billion increase over the previous year
Brands are scouring the globe to find supply partners—especially ones close to American borders—who offer competitive pricing, reliable quality, and consistent deliveries. Mexico has all of that.
-Julia Hughes, president of the United States
Fashion Industry Association
A SEA OF TROUBLES: BRANDS FACE WATERWAY WORRIES
Apparel sourcing execs have to contend with a convoluted global trade environment when determining how and where they are getting their product as the shipping industry deals with seemingly non-stop pressure at multiple major transportation chokepoints worldwide.
The Panama Canal has maintained daily transit restrictions because of record-low water levels in the region, which stems from a months-long drought in 2023. And the Suez Canal has seen far fewer ships transit, as commercial vessels continue to endure ongoing attacks in the Red Sea from Houthi rebels—making the waterway relatively...
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