Fashion trend forecasting generally known as fashion forecasting would be the study that specializes in current fashion and predicts the near future and upcoming trends. A forecaster concentrates on certain important elements like color, fabric, texture, print, graphics, etc. to predict future trends amongst the industry. It pertains to all fields on the fashion industry, whether street clothes, ready-to-wear clothes or of a typical other type. Trend forecasters focus besides on this industry, but takes into account the viability of other important industries like – automobile, food, literature and home furnishings, etc. to predict the long run trend in vogue.
Factors determining the trends:
Popular fashion also referred to as pop fashion, is often a volatile market and depends upon several external factors. Some on the factors which heavily influence the long run trends are-
Color and Fabric – These include the two most significant factors affecting the. The forecasters heavily start using these two factors to predict the long run of fashion.
Celebrities – This is probably probably the most influential factor determining the long run trends. The Red Carpet may be the place to check upon for future trends in vogue.
The economy of any country – The economy of your country and the way much assist the fashion industry incurs within a particular fiscal year will help with forecasting future trends about fashion design.
These are probably the most influential factors that determine the long run of fashion. Apart from these factors, there are lots of other socioeconomic reasons that influence the fashion world in a very positive or negative way.
Long term forecasting VS Short term Forecasting:
Long term forecasting evaluates certain trends and appears into the past for sources of information. The fashion forecasting in the case of long term forecasting lasts over 24 months. Several factors like demographics, climate, major international incidents, consumer expectations, etc heavily influence lasting fashion trend forecasting. Long term forecasting is often carried out by specialized marketing consultants with certain experience in the field.
Short term forecasting, often known as fad forecasting specializes mainly in predicting near about changes in the longer term of fashion design. Short term forecasting relies heavily on pop culture and celebrity wear. Certain events like art events, major sports events, some scientific changes also assistance in short term fashion trend forecasting.
Fashion trend forecasting is vital in the modern world of internet connectivity and accessibility. Without correct and certain forecasts concerning the fashion world, producing dresses might be hampered and therefore the economy of certain companies can dwindle. Fashion trend forecasting is additionally very important at a company’s perspective. Not only the forecast assists in mass production and also they customize the overall image on the organization. In this fast era, mistakes in style can be very dangerous and harmful.
Responsibility of trend forecasting for the company-
As earlier said, products heavily influence the economy of an certain organization. Also, the prediction of future trends is usually a very natural part. Women’s fashion is incredibly volatile and changes every week, unlike men’s fashion which changes only because of certain specific event. Major companies get their dedicated fashion team that’s responsible for forecasting the near future possible trends. Marketing experts also play an natural part in forecasting future trends. They create customized advertisements that create a stronger foothold for any certain style of fashion.