Forecasting means prediction, and fashion forecasting means prediction about upcoming fashion trends. This is the one thing that is so important for fashion forecasters, not those who are fashion designers, just not those who are fashion followers, or consumer fashion leaders, but for anyone who belongs to the fashion industry.
Fashion predictors are those who predict upcoming fashion they study about previous data or old data and also getting information about trend consumer or customer what they want in future what kind of fashion first they demand. Some of the top fashion design colleges in Nashik are training future fashion designers to become skilled fashion forecasters to make waves in the fashion industry.
Fashion news comes from different sources at times that can be from street or runway or the entertainment business. The interesting thing about today is that influences come from high and lower everything from couture to target.
What is Fashion forecasting?
Fashion Forecasting is when global careers are focused on upcoming trends. A fashion forecaster predicts colour, fabric, textures, material, prints, graphics, accessories, footwear, street style and different styles will be presented on the runway and in the stores for the upcoming seasons. The concept applies on not one but the levels of the fashion industry including haute couture ready to wear, mass market and street wear.
Trend Forecasting
Trend forecasting is an overall process which focuses on other industries, for example, automobiles, medicine, food and beverages, literature, and home furnishing. Fashion Forecasters are responsible for attracting con summers and helping retail businesses and designers sell their brands. Today, fashion industry workers rely on the internet to retrieve information or new looks, hot colours, celebrity wardrobes and designer collections.
Trend Forecasting in Fashion
Trend forecasting is very important in fashion. Keep a strong eye on what has appeared in shops and what has been there for a long time. Go to fashion shows to see what the designers are putting on the catwalk this season, and therefore will be launched on the shops. For the extremely wealthy people or elite class they might have their own personal relationship with a designer who will keep them well ahead of the current trends, and watch what celebrities are wearing.
Being ahead of fashion is for many, the ultimate achievement, although being too ahead of the fashion is just as bad as being behind it. If you are too far ahead or people will think what you are wearing is not fashionable because it isn’t fashionable yet.
The Importance of Fashion Forecasting
Accurate forecasting makes it possible for the fashion industry segments to prepare for the meet consumer demand with products that will be accepted and purchased. Keen worldwide competition increases the importance of accurate trend identification.
Steps of Fashion Forecasting
- The fashion forecasting process includes the basic steps of
- Understanding the vision of the business and profile of target customer
- Collecting information about available merchandising
- Preparing information
- Determining trends and choosing merchandise appropriate for the company and target customer.
Aims of Forecasting
To provide you with an understanding of what trend forecasting is and how organisations use this information. To examine how trends evolve and how they are tracked or how they are forwarded by others.
Who is Involved in Forecasting?
- Fashion Designers
- Fashion Merchandisers
Who is a Merchandiser?
Merchandisers are responsible for product appearance and supply in various stores throughout their designated geographic area. By working closely with both suppliers and manufacturers, they make certain that the promotion of specific products and services will increase sales over a period of time.
Colour Forecasting
- Websites who predict colours.
- Standard colour of textile dictionaries
- Pantone
- International colour authority
- The colour box
- The colour marketing group
- Concepts in colour
- Hue point
- Colour portfolio, Inc.com
Why Colour Forecasting Matters?
Colour forecasting benefits both companies and consumers. Colour forecasting isn’t just about colours: it evokes a collective mood and state of being, which can be shared through the products we buy. The term implies for components like:
- Style
- Acceptance
- Decline
- Change
Why do we Need to Forecast?
Because of the above four components fashion is cyclic. It is impossible to ask consumers what they did want to wear a year or two in advance because designers, merchandisers and retailers have to work well ahead of the season (minimum of two season) so as to manufacturers stocks in time for the season and to keep the business going, they have to learn to expect the customers wants and needs which in turn is called forecasting.
Types of forecasting
- Long-term forecasting
- Short-term forecasting
Long-term Forecasting
Long term forecasting is the process of analysing and evaluating trends that can be identified by scanning a variety of sources for information. It is a fashion which last over two years.
When scanning the market and the consumer, fashion forecasters must follow the demographics of certain areas, both urban and suburban, as well as examine the impact on retail and its consumers due to the economy, political system, environment, and culture.
Major changes in international and domestic demographics, shifts in the fashion industry along in the market structure, consumer acceptance, values, and desire to buy, new developments in technology and science and shifts in the economic, political and cultural alliances between certain countries.
Short-term Forecasting
Short term forecasting focuses on current events both domestically and internationally as well as top culture in order to identify possible trends that can be communicated to the customer through the seasonal colour palette fabric, and silhouette stories. It gives fashion a modern twist to a classic look that intrigues our eyes. Some important areas to follow when scanning the environment are: current events, art, sports, science, and technologies. Short term forecasting can also be considered FAD forecasting.
Importance of Knowing the Target Consumer
- Demographic details
- Income
- Lifestyle and
- Brand preferences
Studying Market Conditions
How the consumer buying behaviour is influenced by society, economics, technology and the environment, noting the lifestyles of the customers, and gaining feedback from customers.
Past data analysis observing “Steer Fashion” and what celebrities are wearing keeps up the current events, media, arts and the mood of the public surveying fashion publications, catalogues, magazines and the fashion websites evaluating popular designer collections making and reporting predictions. Coordinating information from fibre, yarn and apparel companies and textile shows worldwide. Analysing the fashion press, visiting the world press, visiting the world fashion centre and observing fashion leaders.
Conclusion
Fashion Forecasting is a complex and challenging process but it is essential for the success of the fashion industry. By using research analysis and creativity fashion forecasters can help predict future trends and ensure that the industry is producing styles that consumers want to buy. You can pursue a B.Des in Fashion and Lifestyle Design to build a bright career in the fashion industry with the right qualifications and skills.