Fashion trend forecasting also called fashion forecasting could be the study that specializes in current fashion and predicts the longer term and upcoming trends. A forecaster specializes in certain important elements like color, fabric, texture, print, graphics, etc. to predict future trends concerning the industry. It relates to all fields with the fashion industry, whether it be street clothes, ready-to-wear clothes or from a other type. Trend forecasters focus not just on this industry, but in addition takes into account the viability of other important industries like – automobile, food, literature and home furnishings, etc. to predict the near future trend popular.
Factors determining the trends:
Popular fashion also known as pop fashion, can be a volatile market and is determined by several external factors. Some from the factors which heavily influence the long term trends are-
Color and Fabric – These include the two most significant factors affecting the market. The forecasters heavily start using these two factors to predict the longer term of fashion.
Celebrities – This is probably by far the most influential factor determining the near future trends. The Red Carpet will be the place to check upon for future trends in vogue.
The economy of any country – The economy of any country and ways in which much conserve the fashion industry incurs in a very particular fiscal year will be 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 a couple of years. Several factors like demographics, climate, major international incidents, consumer expectations, etc heavily influence long lasting fashion trend forecasting. Long term forecasting is usually carried out by specialized marketing consultants that have certain experience in the field.
Short term forecasting, generally known as fad forecasting specializes mainly in predicting near about changes in the long run 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 aid in short term fashion trend forecasting.
Importance –
Fashion trend forecasting is essential in the modern world of internet connectivity and accessibility. Without correct and certain forecasts in regards to the fashion world, the creation of dresses may be hampered therefore the economy of certain companies can dwindle. Fashion trend forecasting is usually very important at a company’s perspective. Not only the forecast can be useful for mass production but in addition they modify the overall image from the organization. In this fast era, mistakes popular can be very dangerous and harmful.
Responsibility of trend forecasting for just a company-
As earlier said, the latest fashions heavily influence the economy of the certain organization. Also, the prediction of future trends can be a very part. Women’s fashion is quite volatile and changes every week, unlike men’s fashion which changes only because of certain specific event. Major companies have their own dedicated fashion team that may be responsible for forecasting the near future possible trends. Marketing experts also play an part in forecasting future trends. They create customized advertisements that build a stronger foothold for just a certain sort of fashion.