What is the fashion trend forecast?
Fashion trend forecasting, also known as fashion forecasting, is the study that focuses on current fashion and predicts future and future trends. A forecaster focuses on certain key elements such as color, fabric, texture, print, graphics, etc. to predict future trends related to the industry. It applies to all fields of the fashion industry, be it street wear, ready-to-wear or any other type. Trend forecasters focus not only on this industry, but also take into account the viability of other major industries such as: automotive, food, literature, and home furnishings, etc. to predict future fashion trend.
Factors determining trends:
Popular fashion, also called pop fashion, is a volatile market and depends on several external factors. Some of the factors that greatly influence future trends are:
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Color and fabric: these are the two most important factors affecting the industry. Forecasters heavily use these two factors to predict the future of fashion.
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Celebrities – This is probably the most influential factor determining future trends. The red carpet is the place to look for future fashion trends.
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A Country’s Economy: A country’s economy and the amount of profit the fashion industry incurs in a particular fiscal year also helps forecast future trends in fashion design.
These are the most influential factors that determine the future of fashion. Apart from these factors, there are several other socio-economic reasons that influence the world of fashion in a positive or negative way.
Long-term forecast VS Short-term forecast:
Long-term forecast evaluate certain trends and look for sources of information in the past. The fashion forecast in case of long-term forecast has a duration of more than 2 years. Various factors such as demographics, weather, major international incidents, consumer expectations, etc. They greatly influence the forecast of long-term fashion trends. Long-term forecasting is usually done by specialized marketing consultants who have some experience in the field.
Short term forecast, also known as fashion forecasting, primarily specializes in predicting near changes in the future of fashion design. The short-term forecast relies heavily on pop culture and celebrity clothing. Certain events like art events, major sporting events, and some scientific changes also help in forecasting short-term fashion trends.
Importance –
Forecasting fashion trends is very important in the modern world of Internet connectivity and accessibility. Without correct and safe forecasts about the world of fashion, the production of dresses can be hampered and therefore the economy of certain companies can decline. Forecasting fashion trends is also very important from a business perspective. Not only does the forecast help in mass production, but it also affects the overall image of the organization. In this fast-paced age, mistakes in fashion can be very dangerous and damaging.
Responsibility for forecasting trends for a company
As stated above, fashion trends greatly influence the economy of a certain organization. Also, predicting future trends is a very important role. Women’s fashion is very volatile and changes every few days, unlike men’s fashion, which changes only due to a specific event. Major companies have their dedicated fashion team that is responsible for forecasting possible future trends. Marketing experts also play an important role in predicting future trends. They created personalized ads that established a stronger foothold for a certain type of fashion.
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