The fashion industry is always experiencing 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 learn about the latest fashion trends so that they can create a buzz with their upcoming fashion collections.
What is trend forecasting and how is it useful?
Fashion trend predictions can be complicated as there are several fashion categories for different people all over the world. Some of the most popular fashion categories include
Clothing for women
Jewelry and Accessories
In addition to this, fashion styles also change 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 trend watchers to recognize what is popular and design products accordingly.
To get rid of complications, trend forecasting mode is an efficient and useful technique. This technique is used by professional forecasters who conduct market research and analyze the buying habits of various customers. This research is being conducted to get an idea of what would be trending in the future.
During the early development of forecasting technique, forecasters did not have access to a large number of resources to conduct their research. As a result, fashion weeks or shows and customer buying habits were the only reliable sources to predict trends. However, with the advancement in technology, more in-depth market research can be conducted taking into account various factors affecting fashion changes. Therefore, better and significant results can be obtained compared to traditional methods.
The need for fashion forecasting is increased compared to the past as celebrities and social media heavily influence fashion trends today. Customers don’t spend a lot of 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 which keep changing rapidly, and therefore predicting trends becomes a bit difficult. Therefore, the fashion industry continues to face rapid changes and complicates the process of trend prediction.
Types of fashion trend forecast:
As there is a strong need for fashion forecasting for the current market, this technique is classified into two types. Fashion forecasters can use either of these techniques to predict fashion trends based on the fashion category.
- Short-term forecast: Also known as fashion forecasting, this type of fashion forecasting analyzes or predicts fashion trends for the next two years.
- Long-term forecast: This type of fashion forecasting technique predicts fashion trends over a long period ranging from 5 to 10 years.
It is important that professionals working in the fashion industry understand the importance of forecasting fashion trends and effectively use data to gain meaningful insight. This information would be very useful for fashion designers to personalize their future collections.