Chapter 1 - Fashion forecasting intro Flashcards
Fashion forecasting
Fashion forecasting – the practice of predicting upcoming trends based on past and present style related information.
- The interpretation and analysis of the motivation behind the trend
- An explanation to why it’s likely to occur.
Why is fashion forecasting done
It allows businesses to deliver the right product/service to consumers at the right time and right place.
For fashion entrepreneurs, reliable trend direction can lead to early business success. It helps people involved in the process make well informed decisions.
Who forecasts fashion:
Fashion forecasters are the individuals or teams that strive to identify upcoming trends and deliver the findings to the industries that provide products to consumers. Designers and manufactures reply on forecasters information to guide them.
A variety of individual professionals participate in fashion forecasting as their jobs:
- Designers and creative directors
- Business and retail executives
- Buyers
- Planners
- Product developers
- Merchandisers
- Magazine and book editors
- Promotional directors
- Advertising specialists
- Fashion design students
Forecasting firms have developed the business of predicting the future of trends.
Where do fashion forecasters find their information:
Fashion can be found almost anywhere including at events and gathering places such as:
- Fashion shows
- Fabric fairs
- Red carpets events
- Club scene
- On the streets
- The internet
- Celebrities
- Innovations ins science
When it started:
It has been around for decades. Color cards have been found as early as 1910.
When do forecasters find fashion ideas:
- Seasonal fashion
- Any major social event
The 5 processes that are followed to develop a forecast are:
- Researching
is the process of exploring or investigating to collect information and imagery while looking for new, fresh, and innovative ideas and recognizing inspiration, trends, and signals. - Editing
is the process of sorting and identifying patterns in the research, data, and images. - Interpreting and Analyzing
are the processes of examining carefully to identify causes, key factors, and possible results while investigating what fuels upcoming trends and considering why and how the trend will manifest. - Predicting
is the process of declaring or telling in advance potential outcomes by developing scenarios to foretell projected possibilities - Communicating
is the process of conveying information, thoughts, opinions, and predictions about the forecast through writings, visual boards, and verbal presentations
Example of a fashion forecast:
A typical forecast includes: Theme—the ideas, stories, and moods of the forecast Colour Textiles and materials Look
Successful forecasting depends on:
- Up to date information
- Sensitivity to the ever-changing desires of fashion consumers
Three questions forecasters must undertake:
1) What has already happened in the past that influences fashion today?
2) What is presently happening that will notably affect fashion in the near future?
3) What is likely to occur in fashion in the distant future and why?
Involves a fusion of skills:
An ideal method should include a mixture of methodical and creative means.
- Objective and Scientific
- Sourcing and data collection
- Analysis of data
- Interpretation of facts - Subjective and Artistic
- Awareness
- Observation
- Intuition
- Memory
Among the things that forecasters consider are:
- Acquired knowledge of historical and contemporary fashion and ideas about future fashion.
- Observations of the movement and direction of change.
- Social and cultural shifts in society.
- Analysis of sales and consumer data.
- A broad understanding, honed by experience, of the inner workings of a trend.
Fashion forecast vs a trend report
Trend report – An account describing in detail something that already exists / has happened. They are often written based on observation from events (runways, red carpets or street fashion).
A fashion forecast – is the combination of trend reports with present information and insight into the future to create predictions of upcoming trends. Explains why. New trends may occur.
Fashion
that which characterizes or distinguishes the habits, manner and dress of a period or group. Fashion is what people choice to wear.
Trends
the first signal of change in a general direction or movement. To identify a trend, forecaster recognize the similarities of information about style and details of a look and translate these details for potential consumers. Trends are not limited to fashion. Trends of the moment are constantly changing as consumers re-evaluate their ideas about styles and tastes.
