Fashion forecasting companies have access to massive amounts of historical data to determine what will be hot in the coming months. These forecasters translate cultural trends into fashion trends and look for trends that are similar to them. These experts combine different factors, such as color, silhouette, and fabric, to create recommendations for clients. One example is WGSN, which identified the current yen for loungewear years before it became a pandemic. Their work helps companies predict what will be popular in the coming months, and how they can capitalize on that.
Trend forecasting is an important part of the fashion industry, as trends are an essential aspect of staying competitive and saving money. Trend forecasting companies monitor changes in consumer preferences, including clothing and fashion, so they can accurately predict the next big thing. Trendspotting companies track everything from the emergence of a trend to a full-blown retail trend. They can also report on past trends. The process of fashion forecasting is both fast and accurate, and they are vital to the success of any company.
Trends can be hard to predict, but if you use real-time data and a deep understanding of the industry, you can make predictions for future trends. Trends are driven by social media, and fashion forecasters are working to understand these trends. In addition to analyzing data, fashion forecasters also research trends on TikTok. More brands are introducing TikTok-friendly fashion. For example, tie and dye sweatpants became extremely popular during the coronavirus outbreak.