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FASHION FORECASTING
• It is the prediction of colours and style of
apparel and accessories which are new
directions in fashion that the majority of
people would like to buy at a given time and
place.
• It is anticipating the customers wants and
needs by Designers, Merchandisers and
Buyers.
Why do we need to forecast ?
• Fashion – It is the style or styles most popular at a given time.
The term implies 4 components:- style, acceptance, taste and
change.
• Because of the above 4 components fashion is cyclic.
• It is impossible to ask consumers what they will want to wear
a year or 2 in advance – they would not know themselves.
• Because designers, merchandisers and retailers have to work
well ahead of the season (minimum of 2 seasons) so as to
manufacture stocks in time for the season and to keep the
business going, they have to learn to anticipate the customers
wants and needs – which in turn is called forecasting.
“CHANGE” BEING A BIG FACTOR FOR
FORECASTING
• Factors causing the fashion to change:
– Season
– Occasion
– Social & economical
– Performance/work wear
• Global coverage :
– At any given moment WGSN researchers are all
over the world gathering cultural inspiration,
tracking consumer attitudes and monitoring retail
patterns up to 4 seasons in advance.
• Expert teamwork :
– Teams of analysts study the gatherings at our
Think Tank.
Think Tank gets together to...
• Analyze seasonal trend information on colour, textiles and styles absorb
real-time reports, which capture the spirit of the moment
• Develop new ideas based on global learning's
• Ensure learning's across all three are shared between the category
specialists
• Each team is led by a category specialist – a proven expert in their field.
• Crucially, these outstanding talents share their learning's with each
other across the categories, so their expertise is comprehensive.
• Informed by each other, their experience of global trend spotting,
define which trends will have an impact and which ones won't — not
only on the fashion industry but on textile manufacturing, advertising,
technology, even automotive design.
• Original CAD design
– Designers work with the key trends, turning them into
commercially viable colours, textiles, silhouettes, styling
and graphics, and fine- tuning them to suit each market.
– These become tools in designing next year's hottest
product.
– Last year alone WGSN developed more than 3,000
downloadable shapes and graphics for their clients to
use. All of which ensures they get the right information
in the right place, at the right time.