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Retail trend forecasting - for ecommerce and retailers

Retail Trend forecasting-

When it’s come to understanding your business the first and core thing is to understand your consumers/customers. While planning to start new clothing business manufacturing is the easiest thing but the most important thing before starting your company is to have market research about your targeted market, consumer’s lifestyle and projection about your business.

Fashion business is the biggest global business which is the most competitive and volatile. Now consumer’s lifestyle is changing rapidly thanks to technology and media, that’s why it’s very important to nab consumer’s demands against your current offering. Failing to understand consumers is risking your business.

How to track consumer’s demand- Before tracking consumer’s demand it’s very important to understand who your consumer is, whom we are going to sell.  We need to slim down to specific consumer based on age-gender-place and ethnicity. Let’s suppose we are planning to manufacture top, pant, jeans etc. targeting female 16-30 age group customer living in rural shall be different than the customer living in urban area. The prints, the silhouettes, the colours shall be different for different consumer group based on demographic data. But this is not everything. We need to keep on tracking the trend accelerators, the catalysts which are affecting lifestyle of our targeted consumers.

Designers usually start conceptualizing products for a new season one year prior to the actual selling season. Therefore, for apparel retailers, knowing what customers will want to wear next season is much more than just helpful information—it is requisite for success. When apparel retailers recognize fashion trends and develop their merchandise on the basis of that information, they increase the probability that consumers will accept merchandise when it arrives in stores thats why retail trend forecasting is very important

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How Trend evolves and fades

New fashions have been continuously created throughout history. Although new fashions are considered to be innovations, most of them are not greatly different from existing fashions and are modifications of previous ones (i.e., continuous innovations). Therefore, many new fashions tend to be evolutionary rather than revolutionary For example, skinny jeans were introduced in the mid-2000s and became narrower throughout the late 2000s, including evolving into skin-tight denim leggings that use stretch fabrics by 2009. Whereas most innovations have evolved from past styles, there have been some exceptions, generally led by major social or world events, such as the end of World War II. After World War II, Christian Dior’s New Look typified a revolutionary change from masculine, square-cut wartime suits for women to billowy-skirted, hourglass-shaped dresses. This radical change reflected the desire to return to tradition roles for men and women. Women were no longer needed in factories because men were back from the war to fill the positions. In addition, the fuller cut of the new look was possible because fabric was no longer in short supply because so much of it was used in the war effort. New trend is inspired and effected by music, art, street, technology economic, culture events, etc.

Retail market requires short term retail trend mini forecast

Since the current retail market is dependent upon vendors, outsourcing, we need to select our assortment which is based on current market trend. Sometimes we are unable to fulfil our customers demand due to wrong assortment filling, inaccurate trend forecast, which causes us great loss, customer loyalty and sales drop. Retail Trend forecasting comes into great play to help you understand current market trend against the current offering

How F-Trend helps

  • Plan assortment based on targeted consumers based on Location, age group and price based breakups
  • We define key Items like colour, silhouettes and prints
  • We help you to understand your market, customer lifestyle changes based on seasonal market offering
  • We validate your current assortment based on consumer’s demand