Fashion Trend Forecasting -Types, Differences & Importance
Have you ever taken time to ask yourself how fashion brands predict upcoming trends? Well before we talk about that, you will need to have background knowledge of fashion trends. [Read this article: https://mx24online.com/#copy_link ]
What Then Is Trend Forecasting In Fashion?
Trend forecasting in fashion is a type fashion research that analyses market trends and buying habits, to make conscious educated decisions on how to move forward on designing new collections to fit the market demand of a time period.
Fashion forecasting revolves around predicting the future market. It is a way of using past sales to anticipate future opportunities. It involves the critical analysing of
- world events
- past and present trends
- color shapes/silhouettes
- target market
Fashion forecasting puts together reports and mood boards for product developers to create new clothes and accessories for brands.
Fashion trend forecasting also focuses on telling a story through trends of silhouettes, design details, colors, fabrics and trims.
Types Of Fashion Trend Forecasting
There are two types of fashion trend forecasting:
- Short-term fashion trend forecasting
- long-term fashion trend forecasting
Short-Term Fashion Trend Forecasting:
Short-term fashion trend forecasting has to do with fad (a fashion item or aesthetics that rises to popularity quickly, lasts for a year of less, and then falls out of taste and chase). They give a fair idea of what customers will be demanding in the next 6-12 months. Short-term trend forecasting usually lasts from season to season, and defines itself by colour, style, pop culture, and the impact of current events. Micro trends may sometimes come at play in short-term forecasting.
Long-term fashion trend forecasting takes it to a wider range. It is researched over a long period of time and is made for larger audience. The styles created also stay longer and forecasting lasts at least five years and nothing less. Long-term fashion trend forecasting identifies significant changes in local and international demographics, shifts in the fashion industry, customer expectations, values and purchase impetus.
Not only does this type of forecasting depend on the needs of the buyer, it also considers the quality of life, economic, social and even political situation of the consumer.
Long-term fashion trend forecasting is the big picture trend that brings major meaning to the fashion business such as demographics, the way clothes are made and sold, and lifestyle.
Differences Between Long-Term & Short- Term Fashion Trend Forecasting
|Long-Term Fashion Forecasting||Short-Term Fashion Forecasting|
|Duration is usually 5-10 years.||Duration often lasts from season to season (not more than a year in most cases)|
|Predicts fashion over a long period of time||Predicts fashion for a short time period|
|Considers demographic, economic, social and sometimes political aspect of consumers.||Considers only the current fashion trends.|
|The broad target audience stays for a long 2-5 years or more||Concentrated audience|
|Many big businesses depend on it||Many small businesses do not depend on it|
|New fashion are more likely to be popular, which is seen as a trend||More fad is seen in his case|
How To Forecast Fashion Trends
There are several ways that can be used to forecast fashion trends as a fashion company owner, a brand or even an individual. Here are a few solid ones:
Trend forecasters before the time of internet, did most of their forecasting work at fashion shows, penning down the most promising designs, bringing that knowledge to the chain-store product developers and fashion magazines like Vogue. This is called “top-down” forecasting. It concerns itself with how fashion trends travel down from haute couture runways, to high street shops.
Now while couture and avant-garde style probably will not be adopted into mainstream, the silhouettes, themes and details might become a RTW trend.
- Trend forecasting services
Big fashion brands that are not vertically integrated, meaning their fashion forecasting is done by hiring the services of an outside forecasting agency, often seek the expertise of trend forecasting agencies, to produce trend research and forecast, at a fee. Some of these agencies provide personalised trends forecast based on your specific brand needs. Examples of these agencies are
- The Donegar Group
- Fashion Snoops & more
- In-house forecasting
Large fast-rising fashion brands are often vertically integrated, meaning their trend forecasting is done in-house. This makes it easy for fashion forecasters of this brand to work directly with the product development team to create new products. Research also stays safely within the walls of these brands too.
- Fashion influencers
Trend forecasters are more likely to look to influencers, street style, fashion blogs and pop culture for information on trends. This technique is called the “bottom-up” forecasting and it is a way of closely monitoring a target market to predict demand for future trends.
- Other industries
Small scaled independent fashion brands and designers may refrain from trends forecasting. Instead, creating mood boards based on film, art and nature to inspire their unique collections may be one way of staying trendy, while looking at the works of other brands (specifically the big brands), and learning from them what is trending, be another way.
Listed below are a few fashion trends forecasting websites and resources to find inspiration as a small scale fashion brand, company owner or individual.
- Trend Zoom
- Fashion Snoop
- The Trend Office
- Fashion Network
- Fashion Editorials
- Vogue Runway App, etc
Why Is Fashion Trend Forecasting Important?
Whether a beginner or seasoned specialist, it is necessary to stay abreast with future trend methods, which is detecting signs, changes and understanding how they point to the future. These signs are an important components of the work of the designer, forecaster, marketer and creative.
Without a fashion trend forecast brands will be shooting in the dark with their designs. Fashion trend forecast provides a direction for fashion designers and brands to create and produce products of relevance and need. It provides for them what their customers want at certain time periods. Therefore, a thirst for knowledge and curiosity is pre-requisite, as it is to help predict and innovate future works.
Every step a brand takes, is a precisely calculated step. Fashion trend forecasting provides all information a brand needs on the upcoming trends and their brands use this data to plan out their next designs.
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