Sourcing Trends: Our Predictions for 2020
Sourcing Trends 2019. The past year has presented a range of challenges. Traditional ‘bricks and mortar’ retail models have struggled to connect with their customers in a new digital world. On an economic level, there has also been a weakness in certain currencies that have impacted the cost of goods Ex-Asia for markets such as Australia. Maybe most pointedly, 2019 has also seen an increase in protectionism coming to the fore.
The headline of this protectionism has clearly been the US/China ‘Trade War’ and the impact this has had on sourcing strategies – and not just for US companies. The escalation in tariffs on Chinese products throughout the year caught many by surprise. Particularly, how quickly they were implemented without any real policy guidance but rather cajoled on by the President’s unpredictability.
At the start of 2020, we have therefore been sitting around our crystal ball to set out our predictions for the china sourcing trends over the coming 12 months. What will the consumer want? What will be the impact on the outsource manufacturing sector? Which markets will be most relevant? Any new technologies? Clearly, these are only our insights and thoughts, no one can really predict the future!
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