Trend forecasting is an important tool for retailers to keep their stock in line with consumer demand and avoid overstock. It can also be used to help retailers produce clothes that are appealing to their customers.
Lululemon uses trend forecasting to anticipate the needs of their customers. By analysing social media trends, they can create a collection based off current consumer wants and avoid fashion missteps. This will enable them to make the best choices for their customers and help them move towards a sustainable future.
Superdry can also benefit from trend forecasting because it can use quantitative trend data to better respond to customers' desires. They can incorporate this data into their design planning, and increase relevancy by collaborating. It can be used to design collections that reflect their brand and keep up with the fashion trends. To appeal to the same consumer groups, they could create a collection with stripes in both men's and women’s apparel.
Trend forecasting can be used by Superdry to predict which colors and fabrics will be most popular in the upcoming collections. For example, stripes are forecasted to be a safe bet for women's Winter '21 collections. Even though stripes will have a visibility of -2%, it is still a good pattern that appeals equally to both genders.
Another trend that can be used for creating collections is velvet and checked print. These prints can have different behavior than other trends, so you need to plan for them in advance. In the US, velvet is forecast to have a medium magnitude in market demand potential. However, checked prints are expected to exhibit a totally different behavior.
Orange-red will be the new fashion trend for Spring 2021. This trend will be popular with all consumers and have universal appeal. However, the market demand for this trend in Winter '21 will be smaller. Lululemon needs to explore other prints in Spring 2022.
Gen Zers will be wearing a lot of shirt jackets as their daily attire. Also, it is safe to say that sweatshirts of large size are a good choice. Lululemon has the ability to mix these two trends and create a collection that suits all ages. Lululemon cannot produce clothing that doesn't fit the needs of their customers. They will end up with excess inventory and be at risk of being out of stock.
C&A can make better stocking decisions because of trend forecasting. By creating an assortment that is in line with consumer demand, they will reduce stockpiles and prevent waste. This will allow retailers to expand into new markets.
C&A is an international retailer with a long tradition in apparel. C&A has a variety of daughter brands that assist them in achieving their goals of fashion-forward apparel and being a leader of sustainability. They have a strong emphasis on transparency and are rapidly becoming a leader in this field. They have a huge consumer base, which means they can ensure their assortment meets the needs and wants of their target customers.
FAQ
What's the impact of technology in the fashion industry? The answer is: lots of changes.
We see a shift away from physical stores towards digital ones. eCommerce is becoming more popular.
We are also seeing shifts in the way that shoppers interact directly with retailers. They want to shop anytime, anywhere, but they still want to feel special when they visit a store.
Retailers are adapting and creating new ways for customers to interact with them. For example, they're offering mobile payment systems so shoppers can pay while browsing. Or they're providing apps that allow them to discover new items before entering the store.
Shoppers are becoming more demanding. They don't just want to browse through catalogs or websites anymore. They want the opportunity to actually experience products. Retailers are opening pop up shops, hosting events and launching popups to offer shoppers the chance to try new products.
What's Amazon's most popular item?
If you want to make money online, there is no faster way than to sell products on Amazon. But to do it right, you must determine which product categories are the most popular ones.
The easiest way to determine what sells best is to look at the top sellers on Amazon.com. These products have been selling well for at least 30 days. These items are more likely to win if they appear on top of the lists more often.
You can also see the average price per sold unit. This number is used to determine the shipping and production costs for each product. It is more profitable to ship and manufacture products with lower costs.
Let's examine some of Amazon's most viewed categories now that we have the basics figured out.
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Best-Selling Books – With more than 3 billion dollars spent in books last year alone, this book category is most likely the largest seller on Amazon.com. There are now thousands of titles listed under this category alone.
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Home Improvement Products – People love home improvement projects. They are constantly looking for ways to improve the quality of their lives and their homes. There are hundreds of options in the home improvement section, including tools and appliances as well as furniture and lighting.
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Electronics & Computers – Whether a smartphone is a tablet, laptop or desktop computer, a digital camera, gaming system, a smartphone, or any other electronic device that can be used to make a difference, people want them. This category includes electronics such as TVs, monitors speakers, headphones, tablet computers, smartphones, tablets, laptops cell phones, cameras and GPS devices.
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Health & Fitness: Millions of people spend their time improving their health and exercising. With over 20 million fitness trackers sold annually, people are spending big bucks on products designed specifically to help them stay fit and healthy.
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Kitchen Gadgets- Millions of Americans enjoy cooking. According to the National Association of Home Builders(NAHB), almost half of U.S. households possess one or more kitchen appliances.
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Fashion Accessories - Clothing and accessories are the ultimate accessory. People are constantly looking for new ways to express their individuality and enhance their style, whether it's shoes, jewelry or bags.
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Toys & Games – Today's children have a wide range of toys to choose from. This has led to a boom in the toy and game industry. You can find toys for children in every shape and size, from dolls to action figures, to board games to video gaming, toy cars to toy trucks.
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Furniture and Decor - Good-quality furniture is essential for any new property, whether it's a house, apartment condo, condo, or office. You don't have to move in six months, two years or longer; high-quality furniture will make you happy for many years.
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Music & Movies - Music and movies are almost indispensable in everyday life. Enjoying inspiring movies and listening to great music is something everyone loves. People spend a lot of money on audio equipment and movie tickets each month.
That's it! These were the top 10 most-sold products on Amazon.com. What do you think? Is there a product that is missing? Are you happy with our selections?
What trends do you predict for the fashion industry in 2023?
The future is unpredictable. There are two main trends in fashion that we can anticipate to continue. Athleisure is the second. We've already seen the rise of athleisure from yoga pants to sweatpants, shorts, tanks, and sweatshirts.
However, it is not just clothing companies that are going casual. They're also being worn by professional athletes. Athleisure is becoming increasingly popular with athletes. Serena Williams, for example, wore an athleisure suit while she played against Naomi Osaka.
Another trend that will continue is the increasing demand for personalized products. Brands like Nike have started creating shoes that fit each person's feet.
We will likely see more advancements in wearable technology as technology advances. Our shopping habits may change. We could see mobile apps that let us customize our outfits as self-service kiosks become more common.
What role does Instagram have in the fashion business?
Instagram is one of the most popular platforms for brands and influencers to connect. This is not surprising, since it gives them access a huge audience.
It's about more than just reaching an audience. Engagement is the key to influencer marketing. It's all about creating relationships with your followers. It takes time.
It's about being consistent and reliable. Quality content should be posted regularly. It is also about answering questions and comment.
It's great for connecting with your fans on Instagram. But it doesn't work well for selling products. That's where other social media channels come in.
Statistics
- OTC Medicine 57% Beauty & Personal Care 52% Vitamins & Dietary Supplements 51% Home & Kitchen 47% Top retailers where consumers are shopping in 1. (junglescout.com)
- As experts quabble over the official call, most consumers are already experiencing economic uncertainty: 52% say their household income is unstable, up 36% from three months ago, and 73% have either reduced or maintained their overall spending levels. (junglescout.com)
- The percentage of shoppers likely or somewhat likely to purchase top social platforms increased across the board in the third quarter of 2022 compared to the second, with TikTok seeing the largest jump. (junglescout.com)
- 55% of respondents agree they want to book a once-in-a-lifetime vacation in 2022. (americanexpress.com)
- Nearly 30% of consumers have started their holiday shopping, though 55% say rising inflation has altered their gifting and spending plans for 2022. (junglescout.com)
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Which Places Will Most Travelers Go in Summer 2023 (and Why?
We expect that summer 2023 will see more travelers travel to destinations with lower prices than last year. However, there are still some surprises.
The most popular destination in the summer of 2023 is Egypt, where tourism is booming. Its stunning scenery and rich cultural heritage are two reasons why Egypt is so popular.
Another striking trend is that more Europeans are moving to other parts of the world. While Europeans are heading to Asia, North America, and Australia, Americans choose Canada and Mexico. These two countries offer incredible value and stunning natural landscapes.
This isn't all bad news. There are few surprises regarding the world's most expensive destinations. They are expected to stay the same.
While tourists spend more on average per day in these places, they continue to attract fewer vacationers overall.
We predict that in summer 2023, the number of international tourists visiting Switzerland will fall below 50 million. A decline is partly due to the recent terror attacks that made the country feel unsafe.
This is a significant change from the past ten year. In 2003, Switzerland had an estimated 150 million international tourist arrivals.
Although the Swiss government has been working hard to reverse this trend, the country may struggle to recover unless they make changes.
For example, they might encourage foreign workers instead of taking away jobs from residents.
Or, they could increase taxes for luxury goods like private jets or yachts.
They might lower the price so people can travel to Switzerland.
There are many options to improve the situation.
So if your goal is to go abroad, take advantage of the 2020 coronavirus crisis and book now!