Trend forecasting refers to a career in which professionals identify and predict the trends for the forthcoming season. They are experts in predicting colors, textures and patterns. A career in trend forecasting is a global career that focuses on the latest trends. Trend forecasters come in many types, with different job titles.
Heuritech
Heuritech is a company which uses advanced trend forecasting technology, to assess the volume and demand for products in various markets. It analyzes millions on photos every day. It can determine the popularity of striped T shirts by analyzing millions of photos every day. It can also predict future trends using data from previous trends.
Heuritech uses a unique deep learning approach to forecast market growth. Its algorithms are trained on historical data to predict trends up to one year in advance. The system can also be used to predict growth in different geographical areas and segments. Fashion brands can make better informed decisions that will enhance their collections.
In 2013, two AI PhDs founded the company. They first looked to tackle financial problems and then decided to focus on fashion. The team includes a mix fashion and technology professionals. In 2016, the team raised EUR1.1million in seed financing. They are now seeking additional capital for their next round of funding.
Heuritech employs artificial intelligence to analyze over three million social media posts daily. It analyzes both the content and the volume of these posts as well as the popularity for certain items. The data is then turned into tools that brands may use to enhance communication strategies. Heuritech allows luxury companies to adapt their communications strategies to latest trends without losing time or money.
Heuritech, founded by two Machine Learning PhDs, was founded in 2013. This technology can be used to analyze fashion images from social media. Heuritech uses this technology to translate fashion images into trends. The company hopes that this technology will improve the fashion industry's ability to forecast demand more accurately, produce sustainable products, and achieve a unique competitive advantage.
Heuritech's trend prediction technology uses millions of images from Instagram each day to scan them. This data allows the company to predict trends months ahead of time, and help brands adapt their designs accordingly. Fashion brands can also use this technology to plan their merchandise mix more efficiently. This technology is data-driven and artificial intelligence-driven. It empowers brands to predict what will be next, before it becomes a trend.
For example, last winter, a plaid coat was the top selling product in the fast-fashion industry. It was so popular, it was even sold in the mass market. The company's client was a regional merchandiser of a fast-fashion brand. Before making the purchase, he wanted a forecast of how plaid would sell in his region.
FAQ
How does technology influence the fashion industry?
Today, consumers are turning to technology to shop and buy clothes. They can compare prices and browse through different stores using their tablets and smartphones. Sometimes, they use apps to scan products and receive instant feedback from other shoppers.
This is especially true if you are looking for unique or difficult-to-find clothes. Online shopping has made it easy to find designer goods. Online retailers eliminate the need to visit physical shops to purchase your favorite brands.
What do teenagers purchase the most?
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 know which products and services teenagers purchased. Then we looked at how those purchases changed over time.
Even we were surprised at the results. Teens are extremely frugal in their shopping habits. They spend far more on clothes than any other type of person, aside from books. However, when it comes technology, they spend far more than any other age.
Teens are also big users of tablets, mobile phones, and computers. The devices were bought by nearly $2 billion in total by children aged 13-17 last year.
However, what is most striking is the fact that while they spend a lot for electronics, they don't spend as much on their smartphones. Apps make up less than 1% of teen smartphone usage.
That means most of them are using smartphones to browse the web. They're using Facebook and Snapchat. They are avid gamers on Xbox, PlayStation and Nintendo.
In other words, they use their phone to chat with friends, play 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 are also spending more time on TV. Teens now spend more hours per week watching TV than any other age group apart from children between ages 5 and 9.
There are many reasons that people watch TV. One of them is that it's easier to control. Even though they've access to various digital options, they tend to stick to traditional media.
Another reason is that they have more options. Kids love to switch channels, so they'll often pick up whatever's on instead of sticking with one channel.
It's also just plain fun. Teenagers enjoy being able to interact on screen with their heroes, whether that's through talking to them or exploring other worlds.
They aren't happy with the content they see. Common Sense Media's survey found that 90% parents think their children would rather see less TV if there were better shows. And two-thirds of parents would rather their kids play video games than watch TV.
This shouldn't be surprising. After all, we know that kids who spend more time watching TV are more likely to be obese. Harvard University's new research supports this conclusion.
It was found that every additional hour of TV watching per day was associated to a 2.5-point rise in the BMI among children between 6 and 11.
So maybe it's time we started thinking about ways to help our kids get off screens. We should ensure that our children have healthy snacks and drinks.
Maybe we should encourage them to take up sports. Recent statistics show that physical activity levels across all age groups are on the decline. Therefore, we must take action.
The good news is that there are many things we can do to improve young people's health. Look at the evidence.
What role does Instagram have in the fashion business?
Instagram is one of the most popular platforms for brands and influencers to connect. Because they have access to a large audience, it is no surprise that Instagram has been so successful.
It's more than reaching an audience. Influencer marketing is all about engaging. It's all about creating relationships with your followers. This takes time.
It's about being consistent and reliable. It's about posting high quality content on a regular basis. It is also about answering questions and comment.
Insta is great for engaging fans. However, Instagram isn't a great platform to sell products. That's where other social media channels come in.
What is the impact of technology on the fashion industry? Answer: Many changes.
We see a shift towards digital stores from physical ones. And we see eCommerce become increasingly popular too.
We are also seeing changes in the way shoppers interact with retailers. They will shop any time, anywhere. But they will still like to feel special when shopping in a store.
Retailers are responding by finding new ways to connect with customers. They offer mobile payment options so that shoppers can shop while they browse. They also offer apps that let them discover new products before they enter the store.
Shopping is becoming increasingly demanding. They don't just want to browse through catalogs or websites anymore. They want to see and feel the products firsthand. So retailers are opening pop-up shops, hosting events, and launching pop-ups to give shoppers a chance to try out new products.
What are your predictions for the fashion industry by 2023?
The future is unpredictable. Two trends are certain to continue in fashion: The rise of athleisure is one. Athleisure has already been embraced by yoga pants, sweatpants and shorts as well as tanks, sweatshirts, sweatshirts, and tanks.
But it's not just clothing brands that are adopting more casual styles. They are even being worn by athletes. For example, tennis star Serena Williams recently wore an athleisure outfit while she played her match against Naomi Osaka.
Personalized products are another trend that will not stop. Nike and other brands have begun to make shoes that are custom-made for each customer.
We'll see more wearable tech developments as technology improves. We may also see a shift in the way we shop. As self-service kiosks become commonplace, we could see the rise of mobile apps that allow us to customize our outfits.
Mobile is influencing fashion industry?
We know that mobile devices are becoming more powerful year after year. They can now take photos, record videos, play songs, and even surf on the internet. So it makes sense that mobile phones are now used to check outfits.
Some people use them to measure the size of a dress before purchasing it. Others use them to take pictures of themselves in front a mirror.
So if you're thinking about buying a new outfit, don't forget to snap a picture with your phone!
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)
- 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)
- 55% of respondents agree they want to book a once-in-a-lifetime vacation in 2022. (americanexpress.com)
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Which trends will influence the travel industry in the future?
The world is constantly changing and so is our way of doing business. When we refer to the digital revolution, we don't just mean the internet. Technology is driving innovation across all industries and affecting us all.
The industry is set to undergo significant changes over the next few years. Here are five areas where the industry is expected to continue to change:
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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 a few examples of how the future of the travel industry looks, but there are countless ways these trends will impact our lives. Let's take a look at each one individually.
When it comes to booking holiday vacations, customers are increasingly sophisticated and demanding. Accenture reports that global holiday travelers are expected to spend $8 trillion by 2020. This means brands will need to invest heavily on customer service, and ensure that customers feel valued as they travel.