The fashion industry always has a shake-up of new trends, and it is not easy to predict future trends. Professionals working in the fashion industries like manufacturers and fashion designers work hard to know the latest fashion trends so that they can rock and create a buzz with their upcoming fashion collections.
What is trend forecasting, and how is it helpful?
Fashion trend predictions can be complicated as there are several categories of fashion for different people all over the world. Some of the most popular fashion categories include
- Jewelry and Accessories
In addition to this, fashion styles also keep changing with the seasons, and this is the reason for the evolution of the terms “Summer Collection” and “Winter Collection.” Therefore, it is important to analyze the trend-spotters to recognize what is popular and design products accordingly.
To get rid of the complications, trend forecasting fashion is an effective and helpful technique. This technique is used by professional forecasters who conduct market research and analyze the purchasing pattern of various customers. This research is conducted to get an idea about the stuff that would trend in the future.
When the technique of forecasting was initially evolved, forecasters did not have access to a large number of resources for conducting their research. As a result, fashion weeks or shows and purchasing patterns of customers were the only reliable sources through which trends were predicted. However, with the advancement of technology, deeper market research can be conducted by considering various factors affecting fashion changes. Therefore, better meaningful results can be obtained when compared to the traditional methods.
The need for fashion forecasting is increased compared to the past because celebrities and social media highly influence today’s fashion trends. Customers do not spend much time selecting the right kind of fashion, and their preference is usually based on the fashion trends followed by famous personalities. The most influenced category here is women’s clothing trends that keep changing quickly, and therefore predicting the trends becomes a little difficult. Therefore, the fashion industry keeps facing rapid changes and complicates the process of trend predictions.
Kinds of fashion trend forecasting:
As there is a strong need for fashion forecasting for today’s market, this technique is classified into two types. Fashion forecasters can use either of these techniques to predict the fashion trends based on the category of fashion.
- Short-term forecasting: Also known as fad forecasting, this type of fashion forecasting analyzes or predicts fashion trends for the next two years.
- Long-term forecasting: This type of fashion forecasting technique predicts fashion trends for a long period ranging from 5 to 10 years.
It is important for professionals working in the fashion industry to understand the significance of fashion trend forecasting and use the data effectively to derive meaningful insights. These insights would be very useful for fashion designers to customize their future collections.