2.01 – Fashion Forecasting

Fashion forecasting ***Foreseeing and predicting fashion trends early enough to allow time for production to meet the consumer demand. Much time required for textile design and development Designers work at least 18 months ahead of the schedule for products to hit the market.

Fashion trend ***The direction of movement of public acceptance of color, texture, and silhouette in fashion. Newest styles and silhouettes** Important colors** for upcoming seasons New developments in fibers** and fabrics markets Material and labor prices Where are garments made?

The importance of forecasting Accurate forecasting makes it possible for the fashion industry segments to prepare for and meet consumer demand with products that will be accepted and purchased. Worldwide competition increases the importance of accurate trend identification.

Who is involved in forecasting? Fashion staffs employed by textile producers Highly-skilled consultants working for fashion services –Fashion services: Resources for fashion reporting, forecasting, and consulting that are available for a fee or by subscription. –Provide market research, feasibility studies, collection reports, forecasting, consulting, slides, garments on loan, and/or original designs.

Who is involved in forecasting? Fashion designers Color services: Fashion and textile professionals meet twice a year to pool their knowledge of color cycles predict future color trends. –Yarn swatches are sent to designers and merchandisers to plan their color stories and to purchase fabrics.

Who is involved in forecasting? Color services –Standard Color of Textile Dictionnaire Internationale de la Couleur - ***color codification system for textiles –Pantone, Inc. - ***worldwide provider of color technology used in design, printing, textiles and plastics. Go to: List the top colors for this fall and spring

–International Color Authority –The Color Box Go to List a few facts about them –The Color Marketing Group –Concepts in Color –Huepoint Go to what do they do? –Color Portfolio, Inc.

Who is involved in forecasting? ( Fashion merchandisers Retail store owners/managers

Fashion Forecasting Activities Make and report predictions based on logic, market research, and instinct Coordinate information from fiber, yarn, and apparel companies, and textile shows worldwide Analyze fashion press, visit world’s fashion centers, and observe fashion leaders (like celebrities***)

Conducting marketing research –Consumer research Surveys by telephone or mail to determine **income levels, lifestyles, fashion preferences, and shopping habits **Consumer focus groups to discuss aspects of shopping satisfaction and its merchandise In-store informal interviewing to assess what customers like and dislike and what they want but cannot find (“Did you find everything you were looking for?”)

–Market research** Study of market conditions Observation of consumer lifestyles Study of current events, the arts, and the mood of the public

–Sales research Evaluation of previous records to recognize sales trends **Rising sales identify developing trends. Declining sales show what fashions have passed their peak. **Weak sales indicate fashions that are not meeting consumer demand.

–Comparison shopping Evaluation of currently popular designer collections Review of fashion publications, catalogs, websites** Observation of “street” fashions and celebrity wardrobes Visiting Competitors stores**

Sources of information Trade publications –Magazines, newspapers, and books about and for a specific industry –Relate current information about trends, business conditions, vendors, and meetings/conventions –Examples: WWD (Women’s Wear Daily) and DNR (Daily News Record)

Sources of information Consumer publications Magazines that provide fashion news for the consumer Examples: Teen, Vogue, Glamour, GQ Websites