What is Fashion Trend Forecast?
Fashion Trend Forecasting, also known as Fashion Forecasting, is a 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 in the industry. It applies to all areas of the fashion industry, be it street clothes, ready-to-wear clothing or any other kind. Trend forecasters not only focus on this industry, but also consider the viability of other key industries such as automotive, food, literature and home furnishings, etc., around the future trend to predict in fashion.
Factors that determine the trends:
Pop-Mode, also called Pop-Mode, is a volatile market and depends on several external factors. Some of the factors that strongly influence future trends are:
- Color and Fabric – These are the two most important factors that influence the industry. The forecasters use these two factors to a great extent to predict the future of fashion.
- Celebrities – This is probably the most influential factor for future trends. The red carpet is the place to look for future fashion trends.
- A Country's Economy – The economy of a country and how much profit the fashion industry makes in a given fiscal year also helps predict 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 affect the fashion world positively or negatively.
Long-term forecast VS short-term forecast:
Long-term prognosis evaluates certain trends and in the past searches for sources of information. Fashion prediction for long-term forecasts takes over 2 years. Various factors such as demographics, climate, major international incidents, consumer expectations, etc. have a significant impact on the prognosis of long-term fashion trends. Long-term forecasts are usually carried out by specialized marketing consultants who have some experience in the field.
Short-term forecast , also known as Fad Forecasting, specializes primarily in predicting changes in the future of fashion design. Short-term forecasts depend heavily on pop culture and celebrity clothing. Certain events such as art events, major sporting events and some scientific changes also help in the short-term prediction of fashion trends.
Fashion trend forecasts are very important in the modern world of internet connectivity and accessibility. Without correct and certain predictions about the fashion world, clothing production can be hindered, weakening the economies of certain companies. Fashion trend forecasts are also very important from a business perspective. The forecast not only helps with mass production but also influences the overall picture of the organization. In this fast-paced era, fashion bugs can be very dangerous and harmful.
Responsibility of the trend forecast for a company
As mentioned before, fashion trends have a big impact on the economy of a particular organization. Predicting future trends also plays a very important role. Women's fashion is very volatile and changes every few days, unlike menswear, which only changes due to a specific event. Big companies have a dedicated fashion team responsible for predicting future trends. Marketing experts also play an important role in predicting future trends. They place customized ads that provide a stronger hold for a particular type of fashion.