Trend forecasting involves the prediction and analysis of trends for the future season. These professionals specialize in predicting colors and fabrics, textures, patterns, materials, graphics, footwear and accessories, as well as street style trends. A career in trend forecasting focuses on current trends and is a global field. Trend forecasters come in many types, with different job titles.
Heuritech
Heuritech, a company that uses sophisticated trend forecasting technology for measuring the volume of products in different markets, is Heuritech. It works by analyzing millions of photos every day. It can also predict when striped Tshirts are most popular and calculate how many there are. Based on past trends, the technology can predict future trends.
Heuritech's trend-forecasting platform uses a deep learning approach that tracks the growth of different market segments. The algorithms can predict trends up to a year ahead of time using historical data. The system allows users to see the predicted growth of different geographic regions and segments. Fashion brands are able to make informed choices that will help them improve their collections.
Two AI PhDs founded the company in 2013. The two AI PhDs first tried to solve financial problems, but then they decided to concentrate on fashion. The team is made up of a mix technology and fashion professionals. In 2016, the team raised EUR1.1million in seed financing. They are currently looking for additional capital to fund the next round.
Heuritech uses artificial Intelligence to analyze 3 million posts every day on social media. It analyzes the content and volume of these posts, as well as the popularity of certain items. The data is then used by brands to help them improve their communication strategies. Ultimately, using Heuritech, luxury brands can adapt their communication strategies to the latest trends without wasting time or money on missed opportunities.
Heuritech was founded by two Machine Learning PhDs in 2013. These researchers developed a proprietary image recognition technology that can analyze fashion images on social media. Heuritech uses the technology to translate fashion photos into trends. The company hopes that the technology will allow them to better forecast fashion demand, produce sustainable products, as well as gain an unrivalled competitive advantage.
Heuritech's trend prediction technology uses millions of images from Instagram each day to scan them. This data allows Heuritech's trend forecasting technology to see trends in real time and allow brands to adapt their designs accordingly. Fashion brands also benefit from the technology's ability to efficiently plan their merchandise mix. This artificial intelligence-driven data-driven process empowers fashion brands by anticipating what's next before it becomes a real trend.
Last winter, for example, the plaid coat was the best-selling product in the fast-fashion sector. It was so popular it was even sold on the mass market. Client of the company was a regional merchant for a fast-fashion label. He wanted to forecast how much plaid would sell in his market before making the purchase.
FAQ
How will the Fashion Industry evolve by 2022?
We expect that the fashion industry will continue its growth path in 2022. The pace of change is picking up, as we've seen in recent years.
Technology is disrupting everything from how we communicate to how we travel, from how we buy products to how we consume content.
It's going faster. We predict that AI will power almost all aspects life in 2022.
Personal assistants, such as Siri or Alexa, will transform everything from smart homes and self-driving automobiles to personal assistants like Siri or Siri. AI will transform industries across the board, including fashion. It will enable designers and consumers to design beautiful clothes through 3D printing.
What are consumers buying post-pandemic in 2022?
Consumers will continue purchasing products that can help them live a healthier life and protect them from illness. This includes food products such as snacks, drinks and pet foods.
They also tend not to spend as much on their insurance. The cost of this insurance is expected increase by 10% per annum for the next 10 years.
The most significant change we anticipate is a greater focus on prevention and wellness. People will seek out products that promote healthy living and prevent diseases.
This means that we should invest in products that improve our sleep quality, reduce stress levels, and maintain our hair and skin's youthful appearance.
Shopping will spend more on preventative care because healthy living will be even more important in the face of the pandemic.
How is mobile changing the fashion industry?
We all know that mobile phones are becoming more powerful and versatile every year. They can now take photos, record videos, play songs, and even surf on the internet. It makes sense that mobile phones can be used to check out outfits.
You can use them to check the fit of a gown before you purchase it. Other people use them to take photos of themselves in front of mirrors.
Do not forget to take pictures with your phone when you think about purchasing a new outfit.
What are teenagers most likely to buy?
There is a lot of data about consumer trends. But none of this data can be used to make any decisions. We had to have a look ourselves at the data. We wanted to see which products and services were purchased by teens. We also looked at how the purchases have changed over the years.
Even we were surprised at the results. We were surprised to see that teens are fairly frugal when it came to shopping habits. They spend more money on clothes that any other group except books. They spend more on technology than any other age group.
Teens also tend to be big spenders of money on mobile phones, computers and tablets. These devices were spent by teens aged 13-17 in the last year, totaling almost $2 billion.
The thing that stands out about teens is their lack of spending on apps. Apps make up less than 1% of teen smartphone usage.
This means that most of them use smartphones to surf the internet. They are using Snapchat and Facebook. They play games on Xbox, PlayStation, and Nintendo.
They use their phones to communicate with friends, listen to music, and watch videos.
This is an interesting trend. Teens are increasingly dependent on their mobile phones. This makes sense considering how much time they spend online.
They're also spending more hours watching TV. Teens spend more time per week watching TV than any age apart from those between 5 and 9.
There are many factors that TV users turn to. One of them is that it's easier to control. They are more likely to stick to traditional media even though they have access to digital options.
They also have more choice. Switching channels is a great way for kids to have fun. They'll switch channels often and will choose whatever's on, rather than sticking with one channel.
It's also just plain fun. Teenagers like being able to interact with characters on screen, whether it's talking to their favorite celebrities or exploring worlds where they can become heroes themselves.
They aren't happy with the content they see. According to a survey by Common Sense Media, 90% of parents say they'd prefer their kids watch less TV if it meant better shows. Two-thirds would prefer their kids to play videogames than watch TV, according to Common Sense Media.
This shouldn't come as too much of a surprise. We know from experience that children who watch more TV are more likely than others to become obese. Harvard University recently conducted research that supports these findings.
It was discovered that watching TV for an additional hour per day is associated with a 2.5 point increase in the BMI of children aged 6-11.
Maybe it's high time that we start thinking about ways to get our kids off of screens. We should ensure that our children have healthy snacks and drinks.
Or maybe we should encourage them into sports. Recent statistics show that physical activity levels across all age groups are on the decline. This is why we need to do something.
Good news is that young people can make improvements to their health. You just need to look at the evidence.
What are the new consumer trends in tourism?
To be successful in any industry, you must stay ahead of the curve. You'll be left behind if you aren't thinking about how consumers behave now. You should be on the lookout for new consumer trends.
The rise of social media is the most important trend impacting travel. Social media is enabling consumers to share more information about their travels, including what they did there and how they felt about it. Travelers are more aware of where they go and share their experiences with the world.
Twitter and Facebook offer users the ability to share photos, videos blogs, reviews, opinions, and other content with their followers and friends. These social media sites have a major impact on our understanding of travel destinations. Social media is a great way to travel better. It allows you to communicate with locals while learning about local culture.
Another major shift is the rise of mobile technology. Smartphones and tablets are gaining more popularity than computers. ComScore says that smartphone penetration rose from 23 percent in 2011 up to 27 percent last. Mobile devices are changing how we interact and access information and giving us new ways to communicate. There are apps that can do almost everything, from booking flights to ordering food, finding directions and even watching movies, to checking the weather forecasts and finding out where to go.
Mobile technology is changing the way we travel too. Our phones can be used to book hotels, view maps and read reviews. We can also make reservations for restaurants from our phones. We can check our emails while we wait in line for restaurants or museums and can even listen to music while driving. These changes have made it possible to travel smarter, faster and more efficiently.
Other than these two major shifts in travel, there are several other smaller trends. Smartphones are used to find activities, events, and attractions based on their location. Foursquare and Yelp apps helped people plan trips based upon recommendations from their friends. These tools are changing how we discover and experience cities.
Companies offering services to tourists are increasing in number. These companies offer customized tours, transportation and accommodations as well other amenities. They help visitors enjoy the city without the hassle of planning everything themselves.
As you can see, there are plenty of opportunities for travel marketers to capitalize on the latest trends. Smart marketing strategies are required to identify the trends that apply to your business, and which ones don't.
What is the impact of technology on fashion?
Today, consumers are turning to technology to shop and buy clothes. Consumers can shop online and compare prices using smartphones and tablets. This may involve using apps to scan products or get instant feedback from other shoppers.
This is especially true for those who want unique or hard-to-find clothing. The Internet has become a great place to shop for designer goods. Online retailers mean that you don't have to visit physical stores to get your favorite brands.
Statistics
- 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)
- While 19% of respondents state they didn't travel in the past two years, other families' favorite experiences included: domestic travel (19%), beach resorts (12%), road trips (11%), international travel (10%), staycations (7%), camping (6%), and more.1 (americanexpress.com)
- OTC Medicine 57% Beauty & Personal Care 52% Vitamins & Dietary Supplements 51% Home & Kitchen 47% Top retailers where consumers are shopping in 1. (junglescout.com)
- 56% of respondents stated they held off on traveling for major entertainment events last year, but have plans to return to these events this year.1 (americanexpress.com)
- and what they are traveling for, with 78% of respondents wanting to impact the community they visit positively.1 Eating & Shopping at Small businesses (americanexpress.com)
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How To
What are some examples?
Trends are predictable changes in consumption patterns.
While they can be unpredictable, trends tend to follow certain patterns. There are two types: cyclical or secular trends.
Cyclical trends tend to repeat themselves periodically over time. In other words, there have been three decades worth of economic growth. This means that consumers tend to spend more each year. But these cycles are usually short-lived - for example, the last decade saw a decline in spending because of the recession.
Secular trends are changes that take place over a longer time period and last long. Technology advances like the internet and mobile phone technology are examples. These trends are frequently driven by changes in tastes and lifestyles, so they do not necessarily correlate to economic activity.
Online shopping is the most prominent trend. Consumers are increasingly turning away from traditional brick-and-mortar stores and purchasing goods online. Another important trend is the rise in eCommerce. eCommerce has seen an increase in popularity and sales than physical retailing over the past few years.
Another important trend is an increase in social networking usage. Social media has become ubiquitous and is used daily by millions around the world. People use online platforms like Facebook, Twitter Instagram, Pinterest, Snapchat and Instagram to share information, express their opinions, and communicate with loved ones.
The third trend is the increasing use of wearable tech. Smartwatches and fitness trackers, smart clothes, and contact lenses are all commonplace. Wearable tech gadgets allow us to monitor our health, well-being, and interact directly with the world.