what is Fashion forecasting, who all are involved in fashion forecasting and types of forecasting.

1. Fashion Forecasting
‘The future is here, its just not very well distributed.’ William Gibson, science fiction writer

2. FASHION FORECASTING
Forecasting
 Process of making predictions of the future
based on past and present data and analysis of
trends.
Fashion Forecasting
 foreseeing fashion trends and predicting
those trends early enough to allow time for
production to meet the consumer demand.
 focuses on upcoming trends
 The textile segment leads in recognizing
fashion directions because of the time
required for textile design and development.
 Textile designers work at least 18 months
ahead of the schedule for products to hit the
market.

3.  The fashion forecasting
process includes the basic
steps of :
 understanding the vision of
the business and profile of
target customers,
 collecting information about
available merchandise,
 preparing information,
 determining trends, and
 choosing merchandise
appropriate for the
company and target
customer.
FASHION FORECASTING

5. Aims:
 To provide you with an
understanding
of what trend forecasting is
and how organizations use
this information
 To examine how trends
evolve and
how they are tracked.

6. Objectives
To enable you to:
 Undertake research & analysis by
identifying and tracking fashion trends
 Apply knowledge of fashion
forecasting
to understand how trends evolve and
are
interpreted by industry

7. Synchronicity
 Common themes
shown on catwalks
around the world.
 Coincidence?
 Collaboration?

8. Fashion Forecasting
 “Trends are profits waiting to happen”
Martin Raymond 2009
Versace scarf prints for AW12 Nelly Rodi
 For mainstream brands,
timing is essential
 Right product,
Right place, Right time

9. FASHION TRENDS
Trend
 The behavior of large group of people,
that is accepted and followed
extensively for a period of time.
Fashion Trends
 The direction of movement of public
acceptance of color, texture, and
silhouette in fashion.
 Newest styles and silhouettes
 Important colors for upcoming seasons
 Newest developments in the fiber and
fabric markets

10. Trend forecasters= lifestyle detectives
 Constant vigilance
 Monitoring current
trends & projecting
forward.
 Observing evolution of
trends.
 Detecting shifts in
attitudes & mindsets.
 Spotting looks or
lifestyles than run
against the norm.

11. Fashion Forecasting
 Stylesight
 Nelly Rodi
 WGSN
 Peclers
 Carlin
 Promostyl
 Trend Union
 Textiles View
 Stylus
 Mudpie
 LSN
 Future Laboratory
 Books cost over £1000 each & online subscription starts around £5000
pa

12. Fashion Forecasting

13. Fashion Forecasting

14. Fashion Forecasting
D Squared AW11 Topshop AW11

15. ** Accurate forecasting makes it possibleAccurate forecasting makes it possible
for the fashion industry segments tofor the fashion industry segments to
prepare for and meet consumer demandprepare for and meet consumer demand
with products that will be accepted andwith products that will be accepted and
purchased.purchased.
* Keen worldwide competition increases* Keen worldwide competition increases
the importance of accurate trendthe importance of accurate trend
identification.identification.
THE IMPORTANCE OFTHE IMPORTANCE OF
FORECASTINGFORECASTING

16. • Fashion designersFashion designers
• Fashion merchandisersFashion merchandisers
• Yarn colors or swatches areYarn colors or swatches are
sent to designers andsent to designers and
merchandisers to plan theirmerchandisers to plan their
color stories and purchasecolor stories and purchase
fabrics.fabrics.
WHO IS INVOLVED IN FORECASTING?WHO IS INVOLVED IN FORECASTING?

17. Long term forecasting
 Long-term forecasting is the process of
analyzing and evaluating trends that can be
identified by scanning a variety of sources
for information.
 It is a fashion which lasts over two years.
 When scanning the market and the
consumers, fashion forecasters must follow
demographics of certain areas, both urban
and suburban, as well as examine the
impact on retail and its consumers due to the
economy, political system, environment, and
culture.

18.  Long-term forecasting seeks to identify:
 major changes in international and
domestic demographics,
 shifts in the fashion industry along with
market structures, consumer expectations,
 values, and impulsion to buy,
 new developments in technology and
science, and
 shifts in the economic, political, and
cultural alliances between certain
countries.
 There are many specialized marketing
consultants that focus on long-term
forecasting and attend trade shows and
other events that notify the industry on
what is to come.
Long term forecasting

19. Short term forecasting
 Short-term forecasting focuses on current
events both domestically and internationally as
well as pop culture in order to identify possible
trends that can be communicated to the
customer through the seasonal color palette,
fabric, and silhouette stories.
 It gives fashion a modern twist to a classic look
that intrigues our eyes.
 Some important areas to follow when scanning
the environment are: current events, art, sports,
science and technology.
 Short-term forecasting can also be considered
fad forecasting.

20. * 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.
Color services: Fashion and textileColor services: Fashion and textile
industry professionals who meet twice aindustry professionals who meet twice a
year to pool their knowledge of coloryear to pool their knowledge of color
cycles and preferences and to projectcycles and preferences and to project
color trends for the future.color trends for the future.
Examples of color servicesExamples of color services

23.  Each retailer's trend forecasting varies and is
mainly dependent upon whether the
company is a wholesale brand or private
label developer. "Every season, there are
hundreds of designers showing breathtaking
collections that the average consumer will
never see.
 What does matter is who sees them—the in-
house designers and buyers at fast fashion
retailers, people who are paying close
attention, identifying and predicting which
styles, patterns and cuts will appeal to the
average woman.
Responsibility for trend
forecasting

24.  Larger companies such as Forever 21
have their own trend departments where
they follow the styles, fabrics, and colors
for the upcoming seasons.
 This can also be referred to as vertical
integration.
 A company with its own trend department
has a better advantage than those who do
not because its developers are able to
work together to create a unified look for
their sales floor.
 Each seasonal collection offered by a
product developer is the result of trend
research focused on the target market it
has defined for itself.
Responsibility for trend
forecasting

25. Responsibility for
trend forecasting
 A merchandiser also plays a key role
in the direction of upcoming trends.
 Different from developers,
merchandisers have much more
experience in buying and are
knowledgeable in what consumers
will be looking for.

26. THE PROCESS

27. ACTIVITIES IN FASHIONACTIVITIES IN FASHION
FORECASTINGFORECASTING
 Making and reportingMaking and reporting
predictionspredictions
 Coordinating informationCoordinating information
from fiber, yarn, andfrom fiber, yarn, and
apparel companies, andapparel companies, and
textile shows worldwidetextile shows worldwide
 Analyzing the fashionAnalyzing the fashion
press, visiting the world’spress, visiting the world’s
fashion centers, andfashion centers, and
observing fashion leadersobserving fashion leaders

28.  Conducting marketingConducting marketing
researchresearch
 Consumer research
• Surveys by telephone or mail to
determine income levels,
lifestyles, fashion preferences,
and shopping habits
• Consumer focus groups to
discuss the pros and cons of
currently offered merchandise
• In-store informal interviewing to
assess what customers like and
dislike
ACTIVITIES IN FASHIONACTIVITIES IN FASHION
FORECASTINGFORECASTING

29.  Conducting marketingConducting marketing
research (cont.)research (cont.)
 Market researchMarket research
• Study of marketStudy of market
conditionsconditions
• Study consumerStudy consumer
lifestyleslifestyles
• Study of currentStudy of current
events, the arts,events, the arts,
and the mood ofand the mood of
the publicthe public
ACTIVITIES IN FASHIONACTIVITIES IN FASHION
FORECASTINGFORECASTING

30.  Conducting marketingConducting marketing
research (cont.)research (cont.)
 Sales researchSales research
• Evaluation ofEvaluation of
previous sales trendsprevious sales trends
• Rising salesRising sales
• Declining salesDeclining sales
• Weak salesWeak sales
ACTIVITIES IN FASHIONACTIVITIES IN FASHION
FORECASTINGFORECASTING

31.  CConducting marketingonducting marketing
research (cont.)research (cont.)
 Comparison shoppingComparison shopping
• Current popular designerCurrent popular designer
collectionscollections
• Review of fashionReview of fashion
publications, catalogs,publications, catalogs,
websiteswebsites
• Observation of “street”Observation of “street”
fashions and celebrityfashions and celebrity
wardrobeswardrobes
ACTIVITIES IN FASHIONACTIVITIES IN FASHION
FORECASTINGFORECASTING

32. SOURCES OF INFORMATIONSOURCES OF INFORMATION
 Trade publicationsTrade publications
 Magazines,Magazines,
newspapers, and booksnewspapers, and books
about and for a specificabout and for a specific
industryindustry
 Examples: WWD andExamples: WWD and
DNRDNR
 Consumer publicationsConsumer publications
• Magazines thatMagazines that
provide fashion newsprovide fashion news
for the consumerfor the consumer
• Examples: Teen,Examples: Teen,
Vogue, Glamour, GVogue, Glamour, G

33. WHAT INFLUENCES THE
TREND FORECASTERS?
 Ethnographic research
 Market research
 Art & culture
 Economic
 Societal
 Environmental
 Technological
 Globalization

34. Ethnographic
research
 - ethnography- the study of
every day life & practice
 Ethnographic research helps
brands:
 understand how their
demographic is changing
 Identify new customers
 Enable brand strategies to
remain aligned
with their philosophy

35. THANK
YOU