ForecastingFashion

Fashion Forecasting

§ Foreseeing fashion trends and predicting those trends early enough to meet customers demands.

Forecasting

• Makes it possible for fashion industry to prepare and meet consumer demand.

Fashion TrendsNew Style

Big SunglassesLeggings

Big NecklacesBig EarringsPolka Dots

PearlsSkinny JeansStraight Jeans

HeadbandsBelts

TRENDS

• The direction of movement of public acceptance of color, texture, and silhouette in fashion.

Fashion Services

• Resources for fashion reporting, forecasting, and consulting that are available for a fee by subscription.

• “A fashion that does not reach the streets is not a fashion”-Coco Chanel

Fashion Services

Color Services

• The Color Box

• The Color Market

• Pantone Inc.

• The Coloring Group

• Huepoint

• Color Portfolio Inc.

RESEARCH

• Consumer research

• Market research

• Sales research

• Comparison research

Consumer Research

• Surveys by telephone or mail to determine income levels, lifestyles, fashion preferences, and shopping habits

• Consumer focus groups

• In-store informal interviewing to assess what customers like and dislike

Market Research

• Study of market conditions (economy)

• Observation of consumer lifestyles

• Study of current events, the arts, and the mood of the public

Sales Research

• Evaluation of previous records to recognize sales trends

• Rising sales identify developing trends• Declining sales show what fashions have

passed their peak.

• Weak sales indicate fashions that are not meeting consumer demand

Comparison Research

• Visits to the businesses of one’s competitors to compare merchandise selections, prices, and other factors related to competition.

• Evaluation of currently popular designer collections

• Review of fashion publications, catalogs, websites

• Observation of “street” fashions and celebrity wardrobes

Trade Publications

• Magazines, newspapers, and books that relate current information about and for a specific industry.

• Examples, Women’s Wear Daily (WWD)

Consumer Publications

• Magazines that provide fashion news and information for the consumer.

• Examples: Seventeen, Vogue, and GQ.

The End