Based on information published by the Better Buying Institute, buyer-supplier partnerships have improved dramatically in the apparel and footwear sector since last year.
In the 2024 Better Buying Partnership IndexTM Report, suppliers involved in global supply chains can evaluate the quality of their business partnerships with their brand, retailer, and other purchasing clients anonymously. Among the 1,413 ratings that suppliers provided in Q4 2023, 72.5 percent were for buyers of softgoods, or clothing, shoes, and home textiles; the remaining 27.4 percent were for buyers of consumer goods, or companies that primarily sell toys, sporting goods, home care products, perfumes, and cosmetics.
With a partnership score of 48 in 2023—the highest to date—Softgoods outperformed the previous rating cycle (2022) by 8 points and the first rating cycle (2021) by 39 points. The results showed improvements in all 12 partnership quality areas; however, buyers’ efforts to improve supply chain environmental performance showed the largest gains (12.6%), followed by improvements in working conditions (10%) and operational process efficiency (11%).
“The ongoing improvements being made by Better BuyingTM repeat subscribers provide strong support for the value of supplier data in improving buyer purchasing practices,” says Marsha Dickson, president and co-founder of the Better Buying Institute.
We encourage businesses to embrace greater openness. As proof of the advancements they are making, we encourage them to share their Better BuyingTM Scores and Company Reports with external stakeholders including investors and rating agencies.
