TradeBeyond’s quarterly Retail Sourcing Report provides a detailed overview of the current state of global retail sourcing to help supply chain leaders make more informed purchasing decisions. In addition to breaking down manufacturing activity and economic indicators, it also features in-depth coverage of ESG trends and best practices, as well as a round-up of recent global sustainability laws impacting supply chains.
The Q3 2023 Retail Sourcing Report covers the implications of dramatically reduced consumer spending globally, which has resulted in ripples through the supply chain where manufacturers are producing less, filling backlogged orders, using up inventories of finished goods, and buying fewer raw materials and components. Emerging markets are expected to see a continued slowdown in economic growth except for certain economies such as India, which is currently experiencing growth resembling China in its manufacturing heyday. China, meanwhile, saw moderate economic growth through the first half of 2023, but in recent months suppliers have reported hesitancy among their overseas customers to place orders. This has resulted in a decline in commodity purchasing as well as layoffs and worker unrest.
Our report’s ESG coverage has expanded, as sustainability remains a dominant topic in boardrooms. In a recent survey, C-suite executives cited improving supplier sustainability and reducing carbon emissions as top priorities, although executives say they are still facing challenges such as securing buy-in from suppliers. Another key finding in the report is that brands that incorporate ESG practices and claims into their products achieve higher sales and brand loyalty, according to a major study that analyzed five years of data on American consumer buying habits. The effects were especially pronounced for smaller brands and for private-label products.
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