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What are the best tools and techniques for forecasting fashion trends?

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Fashion trends are constantly changing and evolving, influenced by various factors such as culture, technology, media, and consumer behavior. As a product developer, you need to anticipate and respond to these trends to create products that meet the needs and preferences of your target market. But how can you forecast fashion trends effectively and efficiently? In this article, we will explore some of the best tools and techniques for forecasting fashion trends, and how you can apply them to your product development process.

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Saurav Bhattacharjee

Category Lead I Product Management I Business Analytics | Brand Management | Ecom I International Business | Fitness…
Opeoluwa Adekoya

Marketing | Growth | Technology | Content
Felipe Fernandes de Freitas

Product Marketing in Petrobras

1 Trend analysis

Trend analysis is the process of identifying and evaluating the patterns, movements, and directions of fashion trends over time. It involves collecting and analyzing data from various sources, such as historical records, market research, social media, industry reports, and expert opinions. Trend analysis can help you understand the current and emerging trends, their drivers, their impact, and their potential opportunities and challenges. You can use tools such as Google Trends, WGSN, and TrendWatching to access and visualize trend data and insights.

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Opeoluwa Adekoya

Marketing | Growth | Technology | Content
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Fashion Retail Market Data & Consumer Insights solutions like Woveninsights.ai help fashion businesses identify seasonal and long-term trends in consumer behaviour and sentiment, with respect to the price, aesthetics, fit and material. They also analyse these trends in the global retail market, by identifying common patterns in pricing, product assortment, and merchandising strategies of top global fashion brands and retailers around the world - valuable for competitive analysis. With solutions like these, fashion retailers, merchandisers, manufacturers and research teams have realtime access to valuable insights to make the most profitable business decisions regarding design, pricing, merchandising and retail.

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Felipe Fernandes de Freitas

Product Marketing in Petrobras
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No geral, recomendaria pesquisa etnográfica. O grupo estudado tem que ser os first adopters. Dito isto, a velocidade do pipeline de inova??o é estratégica para capturar valor na identifica??o precoce de tendências, bem como a agilidade do time de desenvolvimento de produtos.

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Maria Mamkina

AI Product Lead | CPO, PO, PM | Tech Conference Speaker??? | Fintech
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Trend analysis in forecasting fashion trends involves using various tools and techniques: Market Research: Conduct thorough market research to analyze consumer preferences, demographics, and buying behaviors. Trend Forecasting Services: Subscribe to trend forecasting services and platforms that provide insights into upcoming fashion trends. Social Media Monitoring: Monitor social media platforms to gauge popular styles and influencers' impact on fashion. Runway Shows: Attend or follow fashion runway shows and events to identify emerging styles and themes. Historical Data: Analyze historical sales data and trends to predict future fashion preferences.

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2 Trend spotting

Trend spotting is the process of discovering and observing the signs, signals, and indicators of new and emerging fashion trends. It involves being alert and curious about the changes and innovations happening in the fashion industry and beyond. Trend spotting can help you identify and validate the early adopters, influencers, and tastemakers of fashion trends, and their motivations, behaviors, and preferences. You can use tools such as Pinterest, Instagram, and TikTok to follow and engage with trend spotters and creators.

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Maria Mamkina

AI Product Lead | CPO, PO, PM | Tech Conference Speaker??? | Fintech
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Trend spotting is a key technique in forecasting fashion trends, and it involves: Street Style Observation: Paying attention to what people are wearing in everyday life to identify emerging fashion elements. Fashion Blogs and Magazines: Reading fashion blogs, magazines, and websites that showcase current styles and emerging trends. Celebrity and Influencer Influence: Tracking what celebrities and social media influencers are wearing, as their choices often impact fashion trends.

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3 Trend forecasting

Trend forecasting is the process of predicting and projecting the future direction, evolution, and impact of fashion trends. It involves synthesizing and interpreting the data and insights from trend analysis and trend spotting, and applying creativity, intuition, and logic to envision the future scenarios and possibilities. Trend forecasting can help you anticipate and prepare for the future needs and expectations of your target market, and create products that are relevant, innovative, and desirable. You can use tools such as Miro, Foresight, and Scenario Planning to collaborate and communicate your trend forecasts.

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Saurav Bhattacharjee

Category Lead I Product Management I Business Analytics | Brand Management | Ecom I International Business | Fitness Enthusiast I Prompt Engineering I Channel Marketing
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Forecasting fashion trends involves creativity and analytics. Tools like WGSN and Trendwatching offer insights and analysis, while EDITED provides real-time retail data. Google Trends identifies search patterns, and Fashion Snoops covers various trends. Pinterest and Instagram are valuable for visual inspiration, and Trendstop offers trend analysis. Attend fashion trade shows for firsthand looks at emerging styles. AI-powered analytics tools can analyze vast data for predictive insights. By combining these tools with industry knowledge, businesses can stay ahead and capitalize on evolving fashion trends.

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Maria Mamkina

AI Product Lead | CPO, PO, PM | Tech Conference Speaker??? | Fintech
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Trend forecasting is a critical technique in predicting fashion trends, and it involves: Trend Forecasting Agencies: Collaborating with specialized agencies that research and predict upcoming fashion trends through data analysis and market research. Historical Analysis: Examining past trends and their cyclical nature to anticipate potential comebacks or variations. Consumer Behavior Analysis: Studying consumer behavior, preferences, and lifestyle changes to understand the direction of fashion choices.

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4 Trend testing

Trend testing is the process of validating and evaluating the feasibility, viability, and desirability of your products based on the fashion trends you have forecasted. It involves creating and testing prototypes, samples, or minimum viable products (MVPs) with your target market, and collecting and analyzing feedback, data, and metrics. Trend testing can help you refine and improve your products, and measure their performance, fit, and appeal. You can use tools such as SurveyMonkey, Typeform, and Hotjar to conduct and analyze trend tests.

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Maria Mamkina

AI Product Lead | CPO, PO, PM | Tech Conference Speaker??? | Fintech
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Trend testing is a valuable technique in forecasting fashion trends, involving: Sample Collections: Creating small batches of fashion items that incorporate predicted trends to gauge consumer interest and feedback. Market Testing: Introducing trend-focused products in select markets or online platforms to assess their popularity. Surveys and Feedback: Gathering feedback from potential customers to understand if the trend resonates with their preferences.

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5 Trend monitoring

Trend monitoring is the process of tracking and measuring the changes, developments, and impacts of fashion trends over time. It involves updating and revising your data and insights from trend analysis and trend forecasting, and comparing them with the actual market behavior and response. Trend monitoring can help you adapt and optimize your products, and identify new opportunities and challenges. You can use tools such as Google Analytics, Shopify, and Klaviyo to monitor and optimize your sales, conversions, and retention.

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Maria Mamkina

AI Product Lead | CPO, PO, PM | Tech Conference Speaker??? | Fintech
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Trend monitoring is a crucial tool for forecasting fashion trends, and it involves: Social Media Tracking: Keeping an eye on platforms like Instagram and Pinterest to see what styles and looks are gaining popularity among influencers and the public. Retailer Insights: Analyzing sales data and inventory movement to identify which fashion items are selling well and which are not. Fashion Events Attendance: Attending fashion events, shows, and exhibitions to observe emerging styles and innovative designs.

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6 Trend reporting

Trend reporting is the process of communicating and presenting your findings, insights, and recommendations from trend analysis, trend forecasting, and trend testing. It involves creating and sharing reports, dashboards, or stories that showcase your trend research, your product development, and your results. Trend reporting can help you inform and persuade your stakeholders, such as clients, partners, investors, or media, and showcase your value proposition and competitive advantage. You can use tools such as Canva, PowerPoint, and Storyteller to create and deliver engaging and compelling trend reports.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the best tools and techniques for forecasting fashion trends?

1

2

3

4

5

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1 Trend analysis

2 Trend spotting

3 Trend forecasting

4 Trend testing

5 Trend monitoring

6 Trend reporting

7 Here’s what else to consider

Product Development

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What are the best tools and techniques for forecasting fashion trends?

1

2

3

4

5

6

7

1 Trend analysis

2 Trend spotting

3 Trend forecasting

4 Trend testing

5 Trend monitoring

6 Trend reporting

7 Here’s what else to consider

Product Development

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