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 can be used by retailers to avoid overstock and produce clothing that appeals specifically to their customers.
For example, Lululemon can use trend forecasting to anticipate what their customers are seeking from their apparel. By analyzing social media trends, they can build a collection based on current consumer desires and avoid fashion misses. This will help them make the right choices for customers and allow them to move forward with a sustainable future.
Because it can use trend data, Superdry can benefit from trend forecasting. They can integrate this data into design planning and make collaborations more relevant. They can also use it to create collections that fit their brand identity and stay ahead of the fashion curve. For example, they could design a collection that features stripes in both men and women's apparel to appeal to the same 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. Although stripes will not be visible at all, they are still a popular pattern that appeals to both sexes.
Velvet and checked prints are other trends that can be used in a collection. These prints are more unpredictable than other trends so it is important to plan ahead. 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.
For Spring 2021, women will want to wear orange-red. 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 should consider other prints for Spring 2022.
Gen Zers wear a lot of jackets, which is why shirts are so popular. Also, it is safe to say that sweatshirts of large size are a good choice. Lululemon can combine these two trends to create an assortment that's appropriate for everyone. Lululemon may not be able to produce clothes that are in keeping with their customers' tastes. This could lead to inventory being wasted and the possibility of running out.
C&A can make better stocking decisions because of trend forecasting. They will reduce overstock and avoid waste before the production process by creating an assortment that meets consumer 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 several daughter brands that support them in their pursuit of fashion-forward apparel, as well as becoming a leader for sustainability. They are fast becoming leaders in this area due to their strong commitment to transparency. They have a large customer base so that they can make sure their products meet the needs of their target market.
FAQ
What products will consumers be buying after the pandemic of 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 are also more likely to spend on their health insurance, which is projected to rise by 10% annually over the next ten years.
We expect the biggest shift to be in wellness and prevention. We expect consumers to look for products that promote healthy lifestyles as well as prevent disease.
This means investing in products that help us sleep better or reduce stress levels and keep our skin and hair looking young.
The pandemic will make healthy living more important for shoppers, which will lead to increased spending on preventative care.
What do teens buy most?
There are a lot more data available about consumer trends than we can use, but none of them is actionable. We had to have a look ourselves at the data. We wanted the data to show us which products or services teens had purchased. Next, we examined how these purchases have changed over time.
Even we were surprised at the results. It turns out that teens are very frugal when it comes shopping habits. Teens spend more on clothes than any other age group, except for books. They spend more on technology than any other age group.
Teens are also big users of tablets, mobile phones, and computers. Kids aged 13-17 spent almost $2 billion last year alone on these devices.
But what stands out is that while they might be spending a lot on electronics, they aren't spending much on apps. Apps are less than 1% in teen smartphone usage.
They are browsing the web with smartphones, which means that most of them have smartphones. They use Snapchat and Facebook. They use Facebook and Snapchat to play games on Xbox, PlayStation, Nintendo, and Nintendo.
In short, they use their phones to connect with friends, watch videos and play music.
This is an interesting trend. Teens are increasingly dependent on their mobile phones. This makes sense considering how much time they spend online.
They also spend more time 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 reason is that it's easy to control. They are more likely to stick to traditional media even though they have access to digital options.
They also have more choice. Children love to switch channels and will often choose other channels over one.
It's simply fun. Teenagers love being allowed to interact with characters in the screen, whether it be talking to their favorite celebrities, or exploring new worlds that allow them to become heroes.
For all this, they're not happy with the quality of content they're seeing. Common Sense Media found that 90% of parents would prefer their children to watch less TV if they could see better programs. Two-thirds of parents prefer their children to play video games rather than watch television.
This should not be surprising. We all know that obesity is more common in children who spend more time on TV. Harvard University just published new research.
The study found that children 6-11 years old had a 2.5-point increase on their BMI for every hour they watched TV.
It might be time that we think about ways to help our children move away from screens. We should ensure that our children have healthy snacks and drinks.
We could encourage them to get active and play sports. The latest figures show that physical activity levels are declining across all age groups. This is why we need to do something.
There are many things that we can do to improve the health of young people. You just need to look at the evidence.
How is mobile changing the fashion industry?
We all know that mobile phones are becoming more powerful and versatile every year. Today they can take photos, play music, record videos and even surf the internet. It makes sense that mobile phones can be used to check out outfits.
One example is that they can be used by some to measure the length of a garment before they are purchased. Some people also use them for taking photos in front of mirrors.
So if you're thinking about buying a new outfit, don't forget to snap a picture with your phone!
What will 2022 bring to the Fashion Industry?
We expect fashion to continue its upward trajectory in 2022. But as we've seen recently, the pace of change is accelerating.
Everything is being disrupted by technology, from communication to travel to buying products to how you consume content.
It is only going to get faster. Artificial intelligence (AI), we predict, will be used in almost all aspects of life by 2022.
Personal assistants like Siri and Alexa to self-driving vehicles and smart homes. AI will revolutionize all industries, including fashion. It will enable designers to create beautiful clothes using 3D printing and allow consumers to customize their wardrobes online.
Statistics
- 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)
- 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)
- 55% of respondents agree they want to book a once-in-a-lifetime vacation in 2022. (americanexpress.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)
- 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 affect the travel industry?
The world is constantly changing and so is our way of doing business. The digital revolution refers to more than the internet. It's about technology's impact on us all and driving change across industries.
The industry is set to undergo significant changes over the next few years. Here are five key areas where the industry will continue to evolve:
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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 two examples of the trends that will shape the future travel industry. There are many more ways these trends could impact our daily lives. Let's now take a closer look at each topic.
When it comes to booking holiday vacations, customers are increasingly sophisticated and demanding. In fact, according to Accenture, travelers expect to spend $8 trillion on holiday trips globally by 2020. This means that brands need to invest in customer service and make sure customers feel valued and appreciated during their journey.