Swimwear & Accessories | Suppliers | Pricing Trends , Best Practices

Strategic Sourcing Guide to Swimwear & Accessories Procurement

Overview

Business practices within Swimwear & Accessories market are heavily influenced by changing trends across the category as well as within the broader Clothing and Textiles market. Suppliers are disrupting traditional business models with new offerings and terms. These disruptions are also necessitating buyers to relook their procurement practices and standards with respect to supplier selection and price benchmarking activities.

The global industry has seen a gradual increase in labor cost due to several factors, such as shortage of a trained workforce, increase in minimum wages, regulations around employee benefits and declining appeal for what have been traditionally called unskilled jobs. As the employee expenses increase, suppliers are compelled to pass some of this increase to their buyers by charging higher prices.

Several factors in the value chain of Swimwear & Accessories, such as labor cost, logistics, and energy costs are driving up the procurement costs. Additionally, engagement of suppliers who are still operating with outdated assets, technologies and processes is also increasing the cost for buyers.

As a result, category managers need to closely monitor the Swimwear & Accessories procurement trends and identify changes required in their procurement environment for the category.

Swimwear & Accessories Procurement Best Practices

It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Swimwear & Accessories. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Suppliers that have an in-house maintenance and support team should be preferred. This will ensure that maintenance and aftersales support will be provided to the buyer at reduced rates by service providers.

Buyers need to employ robust should-cost models and total cost of ownership models to aid Swimwear & Accessories supplier selection and pricing negotiations.

Buyers can consider engaging suppliers that use advanced technologies such as automation, robotics, and lean manufacturing in their manufacturing process. The use of such technologies enables suppliers to control their OPEX and reduce TAT, which will help buyers avail volume-based discounts on category purchases.

Activate your free account to gain easy access to cutting edge research and insights on consumers, emerging price trends, global and regional suppliers.

Risks in Swimwear & Accessories procurement

Swimwear & Accessories procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Swimwear & Accessories procurement. Some examples include:

Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
Changes in the regulations pertaining to import and export of goods significantly impact the category. For instance, imposition of tariffs and restriction on import of certain raw materials disrupts the whole industry
Category is exposed to the currency exchange risks primarily due to high amount of imports of raw material. The lowering down of dollar and Euro prices against the currency of exporting regions will result in the suppliers incurring extra expenses, which ultimately affects the profitability of the buyer

For detailed insights and complete access to our report library, activate your free account!

Who should read this report

The report is intended to serve as a one-stop reference guide for Swimwear & Accessories procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Swimwear & Accessories: Procurement Report 101” as well as for category experts actively tracking the global Swimwear & Accessories procurement market.

You may have just initiated your research to design a winning Swimwear & Accessories procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

SpendEdge Insights Subscription

Unlock SpendEdge's comprehensive procurement report collection with ease through our procurement platform.

Subscribe Now

Key questions on Swimwear & Accessories procurement answered by this report

Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!

The Swimwear & Accessories procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:

What is the spend potential in the Swimwear & Accessories market?
What is the correct price to pay for Swimwear & Accessories? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Swimwear & Accessories Suppliers Market?
Who are the top Swimwear & Accessories suppliers? What are their cost structures?
Which negotiation levers can reduce Swimwear & Accessories procurement cost ?
What are supplier margins in Swimwear & Accessories market?
What are the best practices for Swimwear & Accessories procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Swimwear & Accessories Category Insights: What is inside

The Swimwear & Accessories market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.

Data

A key highlight of this report is the in-depth outlook created on Swimwear & Accessories procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Swimwear & Accessories. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

Insights

Along with specific category and supplier intelligence, the publication also includes curated insights on Swimwear & Accessories market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.

Advisory

Additionally, the report also advises on the best practices and strategies to manage the Swimwear & Accessories category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.

Category Ecosystem

Buyer and supplier ecosystem
Competitiveness index
Buyer and supplier power
Threat of new entrants and substitutes

Global and Regional Sourcing Insights

Category spend
Spend growth
Dynamics
Opportunities

Pricing and Cost Analysis

Pricing outlook and data
Drivers of pricing
Cost structure and inputs cost
Total cost of ownership
Pricing models and margins

Cost Saving Opportunities & Negotiation Strategies

Buyer and supplier side levers
Quantified cost saving opportunities
Negotiation strategies and quantified outcome

Procurement Best Practices, Strategy and Enablers

Procurement excellence
Sustainability and innovation
KPIs and category enablers
Risk management and outsourcing

Vendor Analysis

RFx essentials and selection criteria
SLAs
Supplier evaluation metrics
Detailed supplier profiles

Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”

❮ ❯

Category Research Framework

SpendEdge presents a detailed picture of Swimwear & Accessories procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.