Wine Guide sponsored by Flagship Wines Ltd UK

Trend Forecasting

sponsored by Flagship Wines Ltd UK

Trend forecasting is one of the most effective methods of fashion forecasting. It is the starting point for designers and fashion buyers.

To be successful in a complicated business like fashion and textiles, designers, buyers, merchandisers, retailers and manufacturers all need knowledge of new developments. They need an understanding of what the market is looking for and require frequent early warning signals of where that market will move to next. A trend can happen overnight, a new trendy store could open, a film or story could change views, opinions and fashions.

Trend Forecasters monitor these needs, trends and changes, they travel constantly, interacting with the fashion industry to keep in touch with design ideas and commercial realities. Trend Forecasters look to see what's going on in the world around us, and analyse their findings to forecast and predict new trends. Trend-analysis companies are important to the fashion industry.

Retail statistics, studies and retail fashion industry market research, including statistics, sales figures, demographics, surveys, studies, consumer behavior, and more. Great sources for your business planning.

Trend-analysis firms represent an increasingly powerful force in the corporate world, where millions of dollars depend on discovering "The Next Big Thing" in music, fashion, food and entertainment. Corporate clients pony up thousands of dollars annually for access to research results via monthly updates, publications and password-protected Web sites. The annual fee for Youth Intelligence's Cassandra Report, which comes out three times a year, is $20,000; access to the company's new Web site, trendcentral.com, is priced at $8,000 per year for one to five users.

Is it worth it? The answer, according to industry experts, is "maybe." As the economy slows, many restaurant operators and other business owners are anxiously looking for indicators of the public mood, and trend-spotters can provide valuable insights. At the same time, according to Judith Langer, a researcher at Roper-Starch Worldwide, separating true trends from flash-in-the-pan fads is no easy task.

In her book, The Mirrored Window: Focus Groups From a Moderator's Point of View, Langer describes forecasting perils such as the "trendy-trend trap," which can befall marketers who focus too heavily on trendsetters as opposed to mainstream consumers. Trendsetters indicate "what's new," but it's the mainstreamers who confirm a long-term trend, says Langer. "Some things that are initially cool become long-term trends, and other things pass over very quickly."

Langer says restaurateurs looking for advice on trends must be guided by their own common sense, as well as their knowledge of their own local area and their customers. Some trends simply go against the grain in certain regions for reasons that are hard to fathom. "I'll never forget the reaction that one of the women in my focus groups had to baby corn," recalls Langer. "This was in the Midwest about 10 years ago. She made a face and went 'ew.' It was like we'd asked her to eat worms."

A taste of tomorrow

In short, says Langer, trends are "extremely unpredictable," which makes the business of tracking and forecasting a tough proposition. Yet, even though there are no guarantees, if you're determined to get ahead of the game, today's trend analysts may offer an intriguing taste of tomorrow.

"While you're focusing on food, we're looking across the culture at clothing, sports, music, technology, etc. As a result, we might be ahead of the curve, aware of some trends that may not have hit the food industry yet," says Iconoculture's Samuel. "We have a horizontal view of the world."

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who after doing a trend analysis, modify the future trends discovered using various other methods and information to arrive at a “better” forecast.

http://www.internetmarketingexperts.co.uk/