Using trend forecasting to create an assortment plan for a brand is a crucial way for retailers to avoid overstock and keep their inventory in sync with consumer demand. This process can help retailers reduce waste and create clothing that appeals to their target audiences.
For example, Lululemon can use trend forecasting to anticipate what their customers are seeking from their apparel. They can analyze social media trends to create a collection that is based on the current consumer needs and avoid fashion mistakes. This will allow them make better choices for consumers and facilitate their journey to a sustainable tomorrow.
Trend forecasting is also a benefit to Superdry, which can use quantitative trend data in order to better meet customers' demands. They can incorporate this data into their design planning, and increase relevancy by collaborating. They can also use the data to create collections that match their brand identity, and keep pace with fashion trends. For example, they could design a collection that features stripes in both men and women's apparel to appeal to the same consumer segments.
Superdry can also use trend forecasting to identify which fabrics and colors will be popular in 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.
You can also use velvet and checked prints to create a collection. These prints have different behaviors than other trends and therefore have to be planned for ahead of time. In the US, velvet is forecast to have a medium magnitude in market demand potential. However, checked prints will display a very different behavior.
Orange-red will be the new fashion trend for Spring 2021. This is expected to have a universal appeal and be a fashion hit among all consumers. However, this trend will have a smaller market demand potential for Winter '21. Lululemon may consider exploring other prints for Spring 2022.
For Gen Zers, shirts jackets are the staple of their everyday wardrobe. Oversized sweatshirts are also predicted to be a safe bet. Lululemon will be able to combine these two styles into an appealing collection for all ages. Lululemon can make clothing that is not in line with its consumers' preferences and risk losing their inventory.
As a result of trend forecasting, C&A can make smarter choices when it comes to stocking its stores. C&A will reduce excess stock and eliminate waste by making an assortment that meets customer demand. This will enable the retailer expand its reach beyond its existing markets.
C&A is a multi-national retailer that has a long history in apparel. They have a range of daughter brands to help them realize their vision of fashion-forward apparel while also being a global leader in sustainability. They also have a strong focus on transparency and are quickly becoming the leader in this area. They have a large customer base so that they can make sure their products meet the needs of their target market.
FAQ
What are Gen Z interested in 2022?
Preparation is key to the future. It means that we need to know where we are headed and how we will get there. This requires us to look at the trends in our world more often.
It also involves looking ahead and anticipating new technologies and innovations that will transform our lives and work.
We are here to share our knowledge and solve each other's problems. Because our future depends on us. We have to make sure that it's a bright future.
It is important to examine the past and plan for the future. Data is essential for this. Lots of it. This data tells us what young people are most interested in now and in five years.
Data that shows what motivates people and what frustrates them. Data that helps us see what is important to them.
Will virtual experiences continue to grow post-pandemic?
Our world is more connected today than ever before. We communicate faster and share information more effectively, as well as collaborate across national borders.
As technology evolves, so will our interactions with one another and with the environment.
Virtual reality (VR) is the next frontier for this evolution. Virtual worlds are changing the way that we do business, learn from, play and explore.
VR is a promising option for consumers but there are concerns that it could be exploited by vulnerable users.
Experts warn VR headsets could be another tool used by cybercriminals for luring unsuspecting victims to phishing attacks and scams.
You should ensure that you read and understand the terms of service and privacy policy before purchasing a headset.
You should also make sure that you have chosen a reputable company.
Make sure you read reviews online and ask friends and family members what they think. You can be sure that if someone is trying sell you a product they will say it's great. So look for independent websites that give detailed reviews.
Many companies now include terms-of-service and privacy policies on their packaging. It is easy to locate and review them.
If you aren't satisfied with your purchase, contact the retailer right away.
What are the current consumer trends
Consumer trends are more important than ever because they affect our lives. They also impact the future direction of commerce and business.
The world we live in today is evolving faster than ever. We live in an era of rapid technological advancement. Our lives are becoming increasingly connected. Unprecedented levels of change are occurring.
This means adapting quickly is what will make you successful in the long-run. The ones who keep up with the times are those who succeed.
Consumers are faced with options that aren't possible just a few years ago. This creates enormous opportunities for businesses as well. This also presents challenges.
There is a lot of demand for convenience. This has driven the rise in eCommerce and online shopping. Consumers want choices and options. Therefore, consumers expect to find the information they seek when they search.
They also want to buy products and services in ways that make sense to them. They want to be capable of comparing prices, reading reviews, and sharing information.
These changes are coming quickly and it's easy to get behind. Keep up-to-date with the latest developments, and use strategies to stay competitive.
Innovation and customer experience are two of the key areas that will help you succeed in this competitive environment. These are the keys to staying ahead of the competition.
It's not enough to offer great service or sell high-quality products. You need to innovate and create unique experiences. And you must deliver exceptional customer service.
The term "customer obsession" is something you may have heard. This refers to the belief that you will surpass your customers' expectations if it is true love for them.
Customers expect great service. This is the problem with many businesses. Instead, many businesses assume that customers should be treated as any other client.
They are able to sell their products and services by focusing only on price and product features.
But customers aren't buying products or services anymore. They are choosing between different alternatives.
You should not be focusing only on your price. Instead, create unique value propositions. That's what will set you apart from your competitors.
And it's not about making something more. It's all about offering something completely new.
You can't do this by being innovative. Innovation is key!
By being creative!
By thinking out-of-the-box!
And most importantly, by providing top-quality customer service.
What are teenagers most likely to buy?
There are many data points about consumer trends. However, we don't have the ability to use them. We looked at the data and decided to do our own analysis. We wanted to see which products and services were purchased by teens. We then looked at the changes in these purchases over time.
Even we were surprised at the results. The results showed that teens are quite frugal when shopping. They spend far more on clothes than any other type of person, aside from books. Technology is where they spend the most.
Teens are also big spenders on mobile phones, computers, and tablets. Kids aged 13-17 spent almost $2 billion last year alone on these devices.
What is striking about this is that they don't spend much on apps, even though they may be spending a lot of money on electronics. Less than 1% of smartphone usage by teens is devoted to apps.
This means that most of them use smartphones to surf the internet. They're using Facebook and Snapchat. They play on Xbox, PlayStation, Nintendo and other gaming platforms.
In other words, they use their phone to chat with friends, play music and watch videos.
Now that's an interesting trend because it suggests that teens are increasingly relying on their mobiles, which makes sense given that they spend more time online.
They are also spending more time on TV. Teens watch TV more than any other age, apart from those aged between 5 and 9 years.
There are lots of reasons why they're turning to TV. One reason is that TV is easier to control. They are more likely to stick to traditional media even though they have access to digital options.
It offers more variety. Children love to change channels so they will often switch channels.
It's simply fun. Teenagers enjoy being able to interact on screen with their heroes, whether that's through talking to them or exploring other worlds.
They're unhappy with the content they're watching, despite all this. Common Sense Media surveyed 90% of parents to find that 90% would prefer their children watch less TV if it meant more quality shows. And two-thirds of parents would rather their kids play video games than watch TV.
This shouldn't surprise anyone. It's no surprise that obese children are more likely to spend more time watching television. 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.
So maybe it's time we started thinking about ways to help our kids get off screens. We might start ensuring that they have healthier snacks available.
Perhaps we should encourage them instead to engage in sports. Recent statistics show that physical activity levels across all age groups are on the decline. It is time to change that.
There are many things that we can do to improve the health of young people. You just need to look at the evidence.
Statistics
- 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)
- 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)
- OTC Medicine 57% Beauty & Personal Care 52% Vitamins & Dietary Supplements 51% Home & Kitchen 47% Top retailers where consumers are shopping in 1. (junglescout.com)
- 70% of parents surveyed agree that in 2022 they are planning to take their first international trip with their children since before the pandemic. (americanexpress.com)
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How To
Which trends will be most impactful for the travel industry
The world is constantly changing and so is our way of doing business. When we talk about the digital revolution, it's not just about the internet. This is about the impact technology has on all industries.
As a result, there are plenty of reasons why the travel industry will experience significant changes in the years ahead. Here are five areas of industry change that will not be lost.
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Customer Experience
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Technology
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Mobile
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Social Media
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Connectivity
These are just some examples of the way the future of travel looks. But there are many ways these trends will affect our lives. Let's examine each area individually.
Booking holidays is becoming more complex and demanding for customers. In fact, according to Accenture, travelers expect to spend $8 trillion on holiday trips globally by 2020. Brands must make customers feel valued throughout their holiday experience and invest heavily in customer services.