Fashion's Payment Practices See Slight Improvement: Average Score Rises From 60.7 to 63.4

The Comparison

• 2022: A study of 36 fashion companies revealed an average score of 60.7 out of 100, reflecting their payment practices.
• 2023: This year, 35 fashion companies were assessed, resulting in a slightly improved average score of 63.4 out of 100.

What This Means

While the average score increased, the 2.7-point jump indicates only a marginal improvement in payment practices within the fashion industry. The decrease in companies assessed from 36 to 35 could reflect market consolidation or a change in survey participant selection, further complicating a straightforward comparison. Businesses still struggling with invoices that are paid late may find this late payment calculator helpful.

One-line summary: From 2022 to 2023, the average score of fashion companies regarding payment practices improved from 60.7 (out of 100, 36 companies) to 63.4 (out of 100, 35 companies).