Global fashion brands expect to increase their prices by an average 20 per cent as a response to US trade tariffs, data from fashion wholesale management firm Joor shows.

According to the company’s recent survey, 85 per cent of brands reported they will be increasing their product prices, passing on either part or all of the tariff costs. 

About 96 per cent of US-based retailers and 82 per cent of non-US retailers confirmed they will be increasing their prices as a result of tariff costs.

The data also reveals that 54 per cent of US brands are not planning to make changes to their supply chain to increase domestic production. Meanwhile, 76 per cent of non-US brands are changing their selling strategies and prioritizing partnering with retailers outside the US.

From a retailer perspective, 75 per cent of non-US retailers plan to decrease their investment in US brands, while 45 per cent of US retailers will keep their investment unchanged. 

Only 20 per cent of retailers are now planning to increase investment in international brands, compared to the 47 per cent recorded in a survey before the tariff announcement.

“Concern over recently announced tariffs is causing significant flux within the global fashion industry,” said Amanda McCormick Bacal, SVP of marketing at Joor.

“Brands preparing for market report plans to increase prices, source from alternate countries, and produce tighter collections. Retailers are similarly adjusting their buying strategy and looking to nurture new brand partnerships to help mitigate the impact of tariffs,” Bacal added.

Joor’s Tariff Survey was conducted from April 10-20 and included responses from over 400 brands and retailers.