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Trend Forecasting Basics
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Trade Shows
Events where industry professionals gather to showcase and view upcoming products and trends. Fashion buyers attend trade shows to gather insights for trend forecasting and to make purchasing decisions.
Market Segmentation
The process of dividing the consumer market into distinct subsets of customers who have common needs and priorities. Fashion buyers use market segmentation to tailor their merchandise to specific target audiences.
Fast Fashion
A business model that rapidly produces affordable garments in response to the latest trends. Fashion buyers in a fast fashion context must quickly incorporate trend forecasts into their assortment planning.
Fashion Cycles
The lifecycle of a fashion trend, from its introduction to its decline. Understanding fashion cycles is fundamental for fashion buyers to manage inventory and markdowns effectively.
Supplier Collaboration
Working closely with suppliers to ensure timely and effective delivery of products that align with trend forecasts. Fashion buyers collaborate with suppliers to adapt to changing trends quickly.
Look Book
A collection of photographs displaying a designer's or retailer's new line of clothing. Fashion buyers use look books to identify and select items that reflect anticipated trends.
Consumer Trend Canvas
A framework used to analyze and understand the impact of societal trends on consumer behavior. Fashion buyers use this canvas to create strategies that align with evolving consumer values and lifestyle changes.
Microtrends
Small, rapidly evolving trends that emerge and fade away quickly. Fashion buyers must identify and capitalize on microtrends to attract trend-driven consumers.
Capsule Collection
A concise and focused selection of clothing that embodies current trends and timeless style. Fashion buyers create capsule collections to provide a curated experience that is both trend-relevant and classic.
Trend Analysis
The systematic process of identifying and evaluating changes in consumer behavior and preferences to predict future market trends. In fashion buying, trend analysis influences assortment planning and inventory decisions.
Silhouette Forecasting
The prediction of future popular shapes and forms in fashion design. Fashion buyers factor silhouette forecasting into their assortments to ensure the clothing fits current aesthetics.
Coolhunting
The practice of researching and identifying upcoming trends and fashions. Fashion buyers rely on coolhunting to stay ahead of the curve and stock relevant, cutting-edge products.
Sustainability Trend
The growing emphasis on ethical and eco-friendly practices in the fashion industry. Fashion buyers incorporate sustainability trends into their buying decisions to appeal to environmentally conscious consumers.
Historical Analysis
Examining past fashion trends to predict future movements in the market. Fashion buyers use historical analysis to inform their decisions, considering the cyclical nature of fashion trends.
Consumer Insights
Information gathered from analyzing consumer behavior and preferences, which helps in predicting future buying patterns. Fashion buyers use consumer insights to align their buying strategies with potential market demands.
Pantone Color of the Year
An annual color selection by Pantone that influences product development across multiple industries, including fashion. Fashion buyers use this color to inspire product ranges and marketing strategies.
Influencer Collaboration
Partnerships with individuals who have a significant following on social media platforms to promote products. Fashion buyers utilize influencer collaborations to reach a wider audience and tap into current trends.
WGSN
WGSN (Worth Global Style Network) is a trend forecasting company providing insights for fashion and design industries. Fashion buyers use WGSN to make informed decisions on product selection and to stay ahead of trends.
Color Forecasting
The projection of color trends and palettes that will be popular in the upcoming seasons. Color forecasting is crucial in fashion buying for developing product ranges that will resonate with consumers.
Seasonal Trends
Trends that are specific to a season, impacting the types of materials, colors, and designs that are popular. Fashion buyers use seasonal trends to ensure their collections are relevant and timely.
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