fashion and forecasting

2. 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 ?????

3. What is Fashion ?????
Fashion is constantly
changing.
It is anything that is
currently “in”.

4. • MysteryMystery
• FreedomFreedom
• ContemporaryContemporary
• DiscoveryDiscovery
• What you areWhat you are
• InnovationInnovation
• SalesSales
• ThinkingThinking
What is Fashion ?????

5. • ComfortComfort
• ReligionReligion
• ChangeChange
• TrendTrend
• WeirdWeird
• Show OffShow Off
• PassionPassion
• StyleStyle
What is Fashion ?????

6.  Individuality and expectations
 Imitation and differentiation
 Fitting in and standing out
 Following and leading
FASHION AS A PSYCHOLOGICALFASHION AS A PSYCHOLOGICAL
RESPONSERESPONSE

7. * Foreseeing fashion trends and predicting those* Foreseeing fashion trends and predicting those
trends early enough to allow time for productiontrends 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 inand 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 theahead of the schedule for products to hit the
market.market.
FASHION FORECASTINGFASHION FORECASTING

8. 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, andyarn, and apparel companies, and
textile shows worldwidetextile shows worldwide
•Analyzing the fashion press, visitingAnalyzing the fashion press, visiting
the world’s fashion centers, andthe world’s fashion centers, and
observing fashion leadersobserving fashion leaders

9. •
Conducting marketing researchConducting marketing research
• Consumer researchConsumer research
• Surveys by telephone or mail to determine incomeSurveys by telephone or mail to determine income
levels, lifestyles, fashion preferences, and shoppinglevels, lifestyles, fashion preferences, and shopping
habitshabits
• Consumer focus groups to discuss the pros andConsumer focus groups to discuss the pros and
cons of currently offered merchandisecons of currently offered merchandise
• In-store informal interviewing to assess whatIn-store informal interviewing to assess what
customers like and dislikecustomers like and dislike
ROLE OF A FORECASTERROLE OF A FORECASTER

10. •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, andStudy of current events, the arts, and
the mood of the publicthe mood of the public
ROLE OF A FORECASTERROLE OF A FORECASTER

11. •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 salesWeak sales
ROLE OF A FORECASTERROLE OF A FORECASTER

12. •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 andObservation of “street” fashions and
celebrity wardrobescelebrity wardrobes
ROLE OF A FORECASTERROLE OF A FORECASTER

13. THE PRECISION OF ATHE PRECISION OF A
FORECASTERFORECASTER

14. THE PRECISION OF ATHE 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

15. Fashion industry componentsFashion 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

16. 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.
Fashion industry componentsFashion industry components
Merchandising

17. 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
Fashion industry componentsFashion industry components
Garment Production

18. 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.
Fashion industry componentsFashion industry components
Garment Production

19. 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.
Fashion industry componentsFashion industry components
Finance

20. 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.
Fashion industry componentsFashion industry components
Operation

25. DESIGN CALENDARDESIGN CALENDAR
Typicale xam ple o f tim e scale fo r
pro ducts in sto re fo r AW20 1 8 :
Trend forecasting May 2017
Textile fairs Sept 2017
Design & dev. complete Feb 2018
Production complete August 2018
Delivery Sept 1st 2018

26. Design calendarDesign calendar
-A FASHION YEAR-A FASHION YEAR
Two main
seasons
Spring &
Summer
Autumn
& Winter

27. Fashion information networkFashion information network
Examples 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

28. Fashion information networkFashion information network
Fashion designersFashion designers
Color services: Fashion and textile industryColor services: Fashion and textile industry
professionals who meet twice a year to pool theirprofessionals who meet twice a year to pool their
knowledge of color cycles and preferences and toknowledge 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 designersYarn colors or swatches are sent to designers
and merchandisers to plan their color stories andand merchandisers to plan their color stories and
purchase fabrics.purchase fabrics.

29. Fashion information networkFashion information network
Examples 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.

30. Fashion information networkFashion information network
* Fashion merchandisers* Fashion merchandisers
* Retail store owners/managers* Retail store owners/managers

31. selling strategyselling strategy
Whole saleWhole sale
retailretail
Large format storeLarge format store
Exclusive brand outletExclusive brand outlet
E commerce channel MarketingE commerce channel Marketing
E commerce onlineE commerce online
Multi brand outletMulti brand outlet

32. THANKSTHANKS