fashion and forecasting

Fashion is a style that is popular in the present Or

Set of trends that have been accepted by a wide

audience.

What is Fashion ?????


Fashion is constantly changing.

It is anything that is currently “in”.

• MysteryMystery• FreedomFreedom• ContemporaryContemporary• DiscoveryDiscovery• What you areWhat you are• InnovationInnovation• SalesSales• ThinkingThinking


• ComfortComfort• ReligionReligion• Change Change • TrendTrend• WeirdWeird• Show OffShow Off• PassionPassion• StyleStyle


Individuality and expectations Imitation and differentiation Fitting in and standing out Following and leading

FASHION AS A PSYCHOLOGICAL FASHION AS A PSYCHOLOGICAL RESPONSERESPONSE

* Foreseeing fashion trends and predicting those * Foreseeing fashion trends and predicting those trends early enough to allow time for production trends early enough to allow time for production to meet the consumer demand.to meet the consumer demand.* Because of the time required for textile design * Because of the time required for textile design and development, the textile segment leads in and development, the textile segment leads in recognizing fashion directions.recognizing fashion directions.

* Textile designers work at least 18 months * Textile designers work at least 18 months ahead of the schedule for products to hit the ahead of the schedule for products to hit the market.market.

FASHION FORECASTINGFASHION FORECASTING

ROLE OF A FORECASTERROLE OF A FORECASTER

•Making and reporting predictionsMaking and reporting predictions•Coordinating information from fiber, Coordinating information from fiber, yarn, and apparel companies, and yarn, and apparel companies, and textile shows worldwidetextile shows worldwide•Analyzing the fashion press, visiting Analyzing the fashion press, visiting the world’s fashion centers, and the world’s fashion centers, and observing fashion leadersobserving fashion leaders

• Conducting marketing researchConducting marketing research•Consumer researchConsumer research• Surveys by telephone or mail to determine income Surveys by telephone or mail to determine income

levels, lifestyles, fashion preferences, and shopping levels, lifestyles, fashion preferences, and shopping habitshabits•Consumer focus groups to discuss the pros and Consumer focus groups to discuss the pros and

cons of currently offered merchandisecons of currently offered merchandise• In-store informal interviewing to assess what In-store informal interviewing to assess what

customers like and dislike customers like and dislike


•Conducting marketing research (cont.)Conducting marketing research (cont.)–Market researchMarket research•Study of market conditionsStudy of market conditions•Study consumer lifestylesStudy consumer lifestyles•Study of current events, the arts, and Study of current events, the arts, and the mood of the publicthe mood of the public


•Conducting marketing research (cont.)Conducting marketing research (cont.)–Sales researchSales research•Evaluation of previous sales trendsEvaluation of previous sales trends•Rising salesRising sales•Declining salesDeclining sales•Weak sales Weak sales


•Conducting marketing research (cont.)Conducting marketing research (cont.)–Comparison shoppingComparison shopping•Current popular designer collectionsCurrent popular designer collections•Review of fashion publications, catalogs, Review of fashion publications, catalogs, websiteswebsites•Observation of “street” fashions and Observation of “street” fashions and celebrity wardrobescelebrity wardrobes


THE PRECISION OF A THE PRECISION OF A FORECASTERFORECASTER

THE PRECISION OF A THE PRECISION OF A FORECASTERFORECASTER

Depend on,Depend on,

•Delivery timeDelivery time

•Availability of raw material as per the forecastAvailability of raw material as per the forecast

•Skilled resourcesSkilled resources

•Technology up gradationTechnology up gradation

•Confidence on forecasterConfidence on forecaster

Fashion industry components Fashion industry components

Merchandising is a specialized management functions within the fashion industry that consists of the planning, development & presentation of the product line.The word came from the “Merchandise” and means buying and selling something. Merchandisers make sure that goods are available in the right stores, at the right time and at the right price

Merchandising

They are on top of what is going on in the market. Merchandisers aim to maximize profits by deciding what to sell, how much to spend on stock, how much to buy and what price to sell at.Merchandising can be further broken down to three types of merchandisers which include-fashion merchandisers, production merchandisers & retail merchandisers.


Merchandising

The responsibility for making the product or manufacturing is traditionally called apparel production. Activities include design, technical design, developing the specifications, and costing the product


Garment Production

Activities may include sampling, testing, grading, fitting, marker making, weaving, cutting, sewing and finishing.Garment manufacturing typically involves several companies in manufacturing a product which can be a timely process unless handled efficiently.


Garment Production

This area is responsible for all of the accounting activities of the firm which includes expenditures of materials & products, salaries as well as overall business budgets.


Finance

Typically this area oversees the upkeep of equipment used by employees such as computers and building space and the distribution activities required for securing materials and shipping the finished products (also called logistics). This includes any transportation from materials to the factory to delivers of goods to your company as well as your customer.


Operation

DESIGN CALENDARDESIGN CALENDAR

Typ ic a l e x a m p le o f tim e s c a le fo r p ro duc ts in s to re fo r AW2 0 1 8 :

Trend forecasting May 2017Textile fairs Sept 2017Design & dev. complete Feb 2018Production complete August 2018Delivery Sept 1st 2018

Design calendarDesign calendar-A FASHION YEAR-A FASHION YEAR

Two main seasons

Spring & Summer

Autumn & Winter

Fashion information networkFashion information networkExamples of fashion servicesExamples of fashion services

* Doneger Creative Services* Doneger Creative Services* Promostyl* Promostyl* ESP Trend Lab* ESP Trend Lab* Carlin International* Carlin International* Here and There* Here and There* Trend Union* Trend Union* WGSN* WGSN

Fashion information networkFashion information networkFashion designersFashion designers

Color services: Fashion and textile industry Color services: Fashion and textile industry professionals who meet twice a year to pool their professionals who meet twice a year to pool their knowledge of color cycles and preferences and to knowledge of color cycles and preferences and to project color trends for the future.project color trends for the future.

Yarn colors or swatches are sent to designers Yarn colors or swatches are sent to designers and merchandisers to plan their color stories and and merchandisers to plan their color stories and purchase fabrics.purchase fabrics.

Fashion information networkFashion information networkExamples of color servicesExamples of color services

* Standard Color of Textile Dictionnaire * Standard Color of Textile Dictionnaire * Pantone, Inc.* Pantone, Inc.* International Color Authority* International Color Authority* The Color Box* The Color Box* The Color Marketing Group* The Color Marketing Group* Concepts in Color* Concepts in Color* Huepoint* Huepoint* Color Portfolio, Inc.* Color Portfolio, Inc.

Fashion information networkFashion information network

* Fashion merchandisers* Fashion merchandisers

* Retail store owners/managers* Retail store owners/managers

selling strategyselling strategy

Whole saleWhole saleretailretail

Large format storeLarge format storeExclusive brand outletExclusive brand outlet

E commerce channel MarketingE commerce channel MarketingE commerce online E commerce online

Multi brand outletMulti brand outlet

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