FORECASTING FASHION TRENDS.
We have come to a stage in fashion where there is no looking back. Fashion like earlier, is no more stagnant. It is making headway and actively changing year by year. Did you know most fashion trends are already forecasted in advance? Well, with time this industry has also started analyzing upcoming fashion trends. In this blog you will come across factual and authentic information regarding the booming concept of “forecasting fashion”.
Due to the driven competition between businesses, designers as well as curiosity of buyers, there was a need to come up with this concept. It is a very complex topic in itself and there is no end to new information. However, if we break it into simple parts, it is a method used to predict the material, stitch, colors, pattern and texture of the future trend. A person who is involved in this process is known as a ‘fashion forecaster’. The forecaster is aware about the nitty-gritty of fashion. Analysis, calculations and consumption patterns are observed and taken into consideration while dictating the fashion trend. There is also something known as a ‘short term forecasting’ that mainly highlights micro trends and ‘long term forecasting’ that culminates macro trends.
One must be wondering why is it important to forecast fashion? Every business organization wants to stand out and increase their sales, basically expand and create demand in the market. Consumer’s behavior towards purchasing is also taken into account. Every brand wants to make their product sellable and work towards a better purchasing power of the buyers. The forecasting team is also involved in determining future sales for the company. Variables, seasonal factors, demography and graphs are used, thus making it a mathematical process too.
Businesses that usually are on a larger scale have an in-house team specially working for forecasting trends. Small brands mainly give it a shot on the basis of their instinct and knowledge.
The service of a forecaster is no walkover. It has become scientific as well as practical due to digitalization and expansion of global markets. So the team basically starts with past trends and research. Further brainstorming is done which links the past trends to the current trends and then foretell the future trends using forecasting tools. Future sales depend upon the forecast hence it is a work of high accuracy. Day to day aspects of consumers is also taken into account. For example: lifestyle, common mass characteristics, personal choices, etc. Fashion Weeks and Textile Market Exhibitions have also become a buzz when it comes to observing forthcoming trends.
Now you know how important a trend hunter is and how much intellect does one need to have in order to be able to make solid predictions? Fashion trend forecasting is pivotal for the fashion industry and a backhand work that will link the company with its customers. To conclude, it is very clear that 2021 trends are already predicted!