Trend forecasting is an important tool for retailers to keep their stock in line with consumer demand and avoid overstock. The process can also help retailers avoid waste and produce clothing items that appeal to their targeted audiences.
For example, Lululemon can use trend forecasting to anticipate what their customers are seeking from their apparel. By analysing social media trends, they can create a collection based off current consumer wants and avoid fashion missteps. This will help them make the right choices for customers and allow them to move forward with a sustainable future.
Trend forecasting is also a benefit to Superdry, which can use quantitative trend data in order to better meet customers' demands. This data can be used by them to integrate it into their design plans and increase relevancy through collaborations. They can also use the data to create collections that match their brand identity, and keep pace with fashion trends. For example, they might design a collection with stripes for both men- and women's apparel in order to appeal to different consumer segments.
Trend forecasting can be used by Superdry to predict which colors and fabrics will be most popular in the upcoming collections. For women's Winter ’21 collections, stripes are forecasted to remain a safe bet. While stripes will remain -2% in visibility, this is still a reliable pattern that appeals to both genders.
Checked and velvet prints are two other options for creating a collection. These prints are more unpredictable than other trends so it is important to plan ahead. Velvet is expected to be in demand at a medium level in the US. However, checked prints are expected to exhibit a totally different behavior.
For Spring 2021, women will want to wear orange-red. This trend will be popular with all consumers and have universal appeal. However, this trend will have a smaller market demand potential for Winter '21. Lululemon needs to explore other prints in Spring 2022.
Gen Zers will be wearing a lot of shirt jackets as their daily attire. It is also safe to buy large sweatshirts. Lululemon is able to combine both these trends to make a range that is suitable for 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 more informed stocking decisions due to trend forecasting. They will reduce inventory and eliminate waste in the production process, creating an assortment that fulfills consumer demand. This will allow retailers to expand into new markets.
C&A is an international retailer with a long tradition in apparel. They have many daughter brands that help them reach their goals of creating fashion-forward apparel as well as being a leader in sustainability. They place a strong emphasis upon transparency and are quickly rising to the top in this area. They have a wide consumer base that allows them to ensure that the assortment they offer is relevant to their target audience.
FAQ
What's Gen Z looking forward to in 2022
The future belongs to those who prepare for it. This means knowing where we are and how we can get there. This requires us to look back more often and see the trends shaping our world today.
It means also looking forward, thinking beyond tomorrow and anticipating the emerging technologies, innovations, and changes that will affect our lives and work.
Because of this, we are here for each other to learn, share information, and help solve each others' problems. Because the future depends upon us. It's our responsibility to ensure a bright future.
We must look at the present and forecast the future. To do that, we need data. Lots of it. Data that shows us what young people value now and what they will care about in five-years.
Data that shows them what motivates them, and what frustrates. Data that helps us see what is important to them.
What are the current consumer trends
Because they impact our lives, consumer trends are increasingly important. They are also a key factor in shaping the future of commerce and business.
The world of today is changing faster than ever. We live in an age where technology advances at an alarming rate. Our lives are becoming increasingly connected. Unimaginable levels of change are happening.
This means that adaptability is key to success in the long-term. The ones who keep up with the times are those who succeed.
We are now confronted with choices that were not even possible a few years back. This opens up huge opportunities for both brands and businesses. However, it can also bring challenges.
There is a lot of demand for convenience. This has driven the rise in eCommerce and online shopping. Consumers want options and choices. As a result, they expect to find what they are looking for when they want it.
They want to be able to purchase products and services that make sense for them. They want to be able compare prices, read reviews, and share information quickly.
But these changes are rapid and easy to miss. It is important to keep up with all the latest developments and develop strategies that will help you stay competitive.
You must focus on innovation and customer experience to succeed in this environment. These are the keys to staying ahead of the competition.
It doesn't suffice to be able to provide excellent service or sell high quality products. You need to innovate and create unique experiences. And you must deliver exceptional customer service.
You may have heard about the term "customer obsession." This refers to the belief that you will surpass your customers' expectations if it is true love for them.
Customers expect great service. Many businesses don't realize this. Instead, many businesses assume that customers should be treated as any other client.
They market their products by focusing on the price and features of their products.
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. You will be different from your competitors if you can do this.
This is not about creating something better. It's all about offering something completely new.
So how can you do this? Innovate!
By being creative!
Try thinking outside the box
And most importantly, we provide high-quality customer support.
What are the new consumer trends in tourism?
To be successful in any industry, you must stay ahead of the curve. If you don't think about the behavior of consumers now, you'll be behind. It is important to keep an eye out for emerging consumer trends.
Social media is the biggest trend that affects travel today. Social media has made it easier for consumers to share information about their travels and the things they did. Travelers are now more aware of their surroundings and sharing their experiences.
Twitter and Facebook are social media platforms that allow users to share photos with friends and followers. These social media platforms play an important role in shaping our knowledge about destinations. Social media helps us to connect with locals and learn about the 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 the ways we interact and access information. They also offer new ways to communicate. There are apps for almost every aspect of life, including booking flights, ordering food, checking weather forecasts, finding directions, and watching movies.
Mobile technology is changing how we travel. Our phones can be used to book hotels, view maps and read reviews. We can also make reservations for restaurants from our phones. While waiting at restaurants or museums, we can check our email and listen to music as we drive. 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. For example, people are now able to use smartphones to find events and attractions near them. Apps such as Foursquare and Yelp helped them plan trips based on recommendations from friends. These tools are revolutionizing the way we see and experience cities.
There are also a growing number of companies offering services aimed specifically at tourists. These companies provide customized tours, transportation, accommodations, and 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. It takes smart marketing strategies, however, to identify which trends will be most relevant for your business and which won’t.
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)
- 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)
- OTC Medicine 57% Beauty & Personal Care 52% Vitamins & Dietary Supplements 51% Home & Kitchen 47% Top retailers where consumers are shopping in 1. (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)
- Just 5% of consumers expect to wait until December to begin shopping, while more than 70% said they'd start before Thanksgiving. (junglescout.com)
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How To
Where are the travellers headed?
Travelers are looking for inspiration, adventure and local culture.
The world is getting smaller. More people travel more frequently. Tourism is growing faster that any other industry. Retail is no longer the largest sector in tourism.
In an increasingly globalized environment, travel has become more accessible, safer, and easier than ever. There are still areas of improvement.
The best places to travel are those that inspire and provide authentic cultural experiences.
They are eager to explore new places, meet new people and have an unforgettable experience.
However, when they travel on vacation they want to feel safe. They want to know they will return home safely, and that they won't be robbed, attacked, or worse.
This is not just about safety. It's important for travelers to be able to enjoy their time away. They want to explore new cities, restaurants, sights, and activities.
They want to make new friends along the journey and learn about different cultures.
These are the same reasons why travelers flock to major tourist attractions such as Disneyland Paris, Universal Studios Hollywood, SeaWorld Orlando, Legoland Florida, Six Flags Magic Kingdom, Cedar Point, Busch Gardens Tampa Bay, and Walt Disney World Resort.
These are not the same locations as your typical hotel chain. These are destination resorts.
They offer guests amazing food and entertainment as well breathtaking views and unique experiences.
Many of the world's top 10 most visited hotels are located in theme parks. Theme parks are often the top 10 destinations for international tourists.
For example, Tokyo Disneyland is one of Japan's most popular tourist spots. Since 2012, the Travellers Choice Awards at TripAdvisor voted it number one.
According to National Geographic Society in 2019, Tokyo Disneyland was the best spot for families to visit.
It was number 3 on the list of 50 most family-friendly destinations in the world.
Disneyland Paris came in second. Universal Studios Hollywood came in third.
This might be the best place to go if you are looking for a destination at a theme park.