Fashion forecasting and fashion

1. FASHIONFASHION
FORECASTINGFORECASTING
PptPpt
By Sunil TalekarBy Sunil Talekar

2. RESEARCH PROCESS IN FASHIONRESEARCH PROCESS IN FASHION
FORECASTINGFORECASTING
• 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

3. • Conducting marketing researchConducting marketing research
– Consumer researchConsumer research
• Surveys by telephone or mail to determineSurveys by telephone or mail to determine
income levels, lifestyles, fashion preferences,income levels, lifestyles, fashion preferences,
and shopping habitsand shopping habits
• 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
RESEARCH PROCESS IN FASHIONRESEARCH PROCESS IN FASHION
FORECASTINGFORECASTING

4. • 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,Study of current events, the arts,
and the mood of the publicand the mood of the public
RESEARCH PROCESS IN FASHIONRESEARCH PROCESS IN FASHION
FORECASTINGFORECASTING

5. • 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
RESEARCH PROCESS IN FASHIONRESEARCH PROCESS IN FASHION
FORECASTINGFORECASTING

6. • Conducting marketing research (cont.)Conducting marketing research (cont.)
–Comparison shoppingComparison shopping
• Current popular designer collectionsCurrent popular designer collections
• Review of fashion publications,Review of fashion publications,
catalogs, websitescatalogs, websites
• Observation of “street” fashions andObservation of “street” fashions and
celebrity wardrobescelebrity wardrobes
RESEARCH PROCESS IN FASHIONRESEARCH PROCESS IN FASHION
FORECASTINGFORECASTING

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. FASHION TRENDFASHION TREND
****** The direction of movement of public acceptance ofThe direction of movement of public acceptance of
color, texture, and silhouette in fashion.color, texture, and silhouette in fashion.
•What are the newest styles and silhouettes?What are the newest styles and silhouettes?
•What are the important colors for upcoming seasons?What are the important colors for upcoming seasons?
•What are the newest developments in the fiber and fabricWhat are the newest developments in the fiber and fabric
markets?markets?
•What is happening to materials and labor prices?What is happening to materials and labor prices?
•Where are companies having garments made?Where are companies having garments made?

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

10. 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
Primary sourcesPrimary sources

11. 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.
Primary sourcesPrimary sources

12. 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.
Secondary sourcesSecondary sources

13. * Fashion merchandisers* Fashion merchandisers
* Retail store owners/managers* Retail store owners/managers
Tertiary sourcesTertiary sources

14. • Trade publicationsTrade publications
–Magazines, newspapers, and booksMagazines, newspapers, and books
about and for a specific industryabout and for a specific industry
–Examples: WWD and DNRExamples: WWD and DNR
Tertiary sourcesTertiary sources

15. Sales tracking involves keeping tabs on
your sales activities. It typically involves
keeping track of what's happening with your
sales today as well as what's expected to
happen in the future. Doing this can help
you with resource management, sales
forecasting, and performance management
of clients and / or sales staff.
What is Sales Tracking

16. Demographics

17. Demographics
Demographics is the study of a population based on factors such as age,
race and sex, among others.

18. Value and lifestyle

19. Publication
• Trade publicationsTrade publications
–Magazines, newspapers, and booksMagazines, newspapers, and books
about and for a specific industryabout and for a specific industry
–Examples: WWD and DNRExamples: WWD and DNR

20. Forecasting services
• ‘ archaelogy of the future’ Li Edelkoort
• Stylesight
• Nelly Rodi
• WGSN
• Peclers
• Carlin
• Promostyl
• Trend Union
• Textiles View
• Stylus
• Mudpie
• LSN
• Future Laboratory
• Bo o ks co st o ve r £1 0 0 0 e ach & o nline subscriptio n starts
aro und £50 0 0 pa

21. Forecasting services
• ‘ archaelogy of the future’ Li Edelkoort
• Stylesight
• Nelly Rodi
• WGSN
• Peclers
• Carlin
• Promostyl
• Trend Union
• Textiles View
• Stylus
• Mudpie
• LSN
• Future Laboratory
• Bo o ks co st o ve r £1 0 0 0 e ach & o nline subscriptio n starts
aro und £50 0 0 pa

22. Observation posts
• Fashion weeksFashion weeks
• FairsFairs
• Global MarketGlobal Market
• DesignersDesigners
• CelebritiesCelebrities
• IconIcon

23. Observation posts
Concerts?

24. Observation posts
Fashion?

25. The new technology
• Digital PrintingDigital Printing
• Lazer cutLazer cut
• 3D Printing3D Printing

26. The fashion of involvement
• an overall fashion involvement continuum can be defined based on the aggregate
effect of a variety of important fashion behavioral activities. Sproles and King
(1973) suggest, based on previous fashion segmentation research, that there are at
least five important dimensions of the aggregate fashion involvement continuum.
• They are:
• 1. Fashion innovativeness and time of purchase. The continuum which ranges from
the early adopting and experimenting consumer to the late buying, conservative
consumer;
• 2. Fashion interpersonal communication. A continuous dimension which describes
the relative communicative and influential power of the consuming population at
conveying fashion information;
• 3. Fashion interest. A continuum ranging relatively from the highly interested
fashion consumer to the totally non-interested buyer;
• 4. Fashion knowledgeability. Consumers range from those who are relatively
knowledgeable about fashions, styles and trends to those who have no insight into
the fashion arena;
• 5. Fashion awareness, and reaction to changing fashion trends. A continuum
ranging from the consumer who is very actively monitoring the style trends to the
totally non-aware individual.

27. The fashion of involvement
• an overall fashion involvement continuum can be defined based on the aggregate
effect of a variety of important fashion behavioral activities. Sproles and King
(1973) suggest, based on previous fashion segmentation research, that there are at
least five important dimensions of the aggregate fashion involvement continuum.
• They are:
• 1. Fashion innovativeness and time of purchase. The continuum which ranges from
the early adopting and experimenting consumer to the late buying, conservative
consumer;
• 2. Fashion interpersonal communication. A continuous dimension which describes
the relative communicative and influential power of the consuming population at
conveying fashion information;
• 3. Fashion interest. A continuum ranging relatively from the highly interested
fashion consumer to the totally non-interested buyer;
• 4. Fashion knowledgeability. Consumers range from those who are relatively
knowledgeable about fashions, styles and trends to those who have no insight into
the fashion arena;
• 5. Fashion awareness, and reaction to changing fashion trends. A continuum
ranging from the consumer who is very actively monitoring the style trends to the
totally non-aware individual.

28. Fashion Promotion
• Promotion mix in fashion includes advertising, public
relations, publicity, visual merchandising, and special
events
• Mix based on characteristics of products and the market

29. Making the fashion happen