{"id":10508,"date":"2021-04-29T16:05:18","date_gmt":"2021-04-29T16:05:18","guid":{"rendered":"https:\/\/whiteweb.studio\/sam\/?p=10508"},"modified":"2021-04-29T16:05:18","modified_gmt":"2021-04-29T16:05:18","slug":"what-is-the-importance-of-fashion-forecasting","status":"publish","type":"post","link":"https:\/\/whiteweb.studio\/sam\/what-is-the-importance-of-fashion-forecasting\/","title":{"rendered":"What is the importance of fashion forecasting?"},"content":{"rendered":"<div class=\"section\">\n<p>Retailers depend on fashion forecasters to tell them what\u2019s going to be hot in the coming year. Fashion forecasting must be performed well in advance of the actual buying season because purchasing departments place orders months ahead of sales. Forecasting isn\u2019t an exact science; successful forecasters rely on history, recent fashion trends, economic conditions and their own instincts.<\/p>\n<\/div>\n<div data-has-intersected=\"true\">\n<h2>Why is fashion forecasting important?<\/h2>\n<p>There aren\u2019t many areas of business that don\u2019t use forecasting, as it plays a huge role in dictating brand direction and the creation of new products or services. Fashion is one of the most crowded, and therefore competitive, industries there is \u2013 there are thousands of brands and retailers all battling to have consumers wear their products. Staying on top of what\u2019s hot, and what\u2019s not, is vital to retaining attention and custom.<\/p>\n<p>The modern consumer goes through clothes quickly and wants to be able to copy the trends they see. Subsequently, trends come and go much quicker than ever before. Forecasting needs to provide designers and retailers with fresh ideas constantly, otherwise they fall behind the competition.<\/p>\n<\/div>\n<div class=\"section\">\n<h2>Gather Cultural and Social Insights<\/h2>\n<p>Fashion forecasting relies on a wealth of social and cultural information to make predictions about where consumer tastes will head. To cover all the bases, fashion forecasters often bring together groups of professionals from various backgrounds for brainstorming sessions. The group may include social psychologists, interior designers, economists and color experts to add depth to the intuitive abilities of the fashion forecasters.<\/p>\n<\/div>\n<div class=\"section\">\n<h2>Market Surveys and Consumer Research<\/h2>\n<p>Designs that nobody buys are useless. To ensure their marketability, <strong>fashion forecasters<\/strong> often rely on consumer surveys to perform market research. By asking consumers directly what they would buy, how much they would pay and where they look to find fashion direction, forecasters can better gauge the marketplace for fashion buyers. Consumer research performed through telephone surveys, online questionnaires and direct customer feedback adds statistics about buying trends that tell forecasters what colors have sold well, what demographics are most likely to make purchases and which products suit customer tastes.<\/p>\n<\/div>\n<div class=\"section\">\n<h2>Track Social Media and Internet Action<\/h2>\n<p>Trend forecasters spend a considerable amount of time tracking what\u2019s being looked at online and who\u2019s doing the looking. These forecasters look at which websites attract certain demographics and what pages are being explored. They track the movements of celebrity trendsetters and underground early adopters to see what fashions are being promoted and worn. They read blogs and popular interactive trending sites for the latest gossip and filter through the images and files receiving the most attention. They include trends promoted by popular designers to come up with their predictions.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<div class=\"section\">\n<h2>Fast Fashion to Satisfy Consumer Desires<\/h2>\n<p>Because <a href=\"https:\/\/whiteweb.studio\/sam\/category\/fashion\/\">fashion<\/a> shows and the latest trends are widely available to the public via multiple mass media platforms, consumers demand the latest runway designs immediately after viewing them. In response to this desire for instant gratification, fashion manufacturers have developed a strategy called \u201cfast fashion,\u201d which aims to deliver copies of the latest runway shows in as little as three to six weeks. The quick turnaround eliminates the need for long-term forecasting and instead relies on short-term forecasting based on real-time data to make buying decisions.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>Resources:<\/p>\n<p><a href=\"https:\/\/www.bl.uk\/business-and-ip-centre\/articles\/3-basic-steps-for-effective-fashion-forecasting\" target=\"_blank\" rel=\"nofollow noopener\">British Library<\/a><\/p>\n<p><a href=\"https:\/\/online.ntu.ac.uk\/online-student-experience\/articles\/the-role-of-fashion-forecaster\" target=\"_blank\" rel=\"nofollow noopener\">Nottingham Trent University<\/a><\/p>\n<p><a href=\"https:\/\/jdinstitute.co\/importance-of-fashion-forecasting\/\" target=\"_blank\" rel=\"nofollow noopener\">JD Institute of Fashion<\/a><\/p>\n<p><a href=\"https:\/\/www.thewowstyle.com\/best-skeleton-watches\/\" target=\"_blank\" rel=\"nofollow noopener\">The WoW Style<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retailers depend on fashion forecasters to tell them what\u2019s going to be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,2457],"tags":[],"class_list":["post-10508","post","type-post","status-publish","format-standard","hentry","category-blog","category-fashion"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the importance of fashion forecasting? 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