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UNIT B�Evolution and Movement of Fashion

2.01

Interpret the process of fashion forecasting.

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Fashion forecasting

Foreseeing fashion trends and predicting those trends early enough to allow time for production to meet the consumer demand.

  • Because of the time required for textile design and development, the textile segment leads in recognizing fashion directions.
  • Textile designers work at least 18 months ahead of the schedule for products to hit the market.

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Fashion trend

The direction of movement of public acceptance of color, texture, and silhouette in fashion.

  • What are the newest styles and silhouettes?
  • What are the important colors for upcoming seasons?
  • What are the newest developments in the fiber and fabric markets?
  • What is happening to materials and labor prices?
  • Where are companies having garments made?

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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.
  • Keen worldwide competition increases the importance of accurate trend identification.

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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.

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Who is involved in forecasting? (cont.)

  • Examples of fashion services
    • Doneger Creative Services
    • Promostyl
    • ESP Trend Lab
    • Carlin International
    • Here and There
    • Trend Union

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Who is involved in forecasting? (cont.)

  • Fashion designers
  • Color services: Fashion and textile industry professionals who meet twice a year to pool their knowledge of color cycles and preferences and to project color trends for the future.
    • Yarn colors or swatches are sent to designers and merchandisers to plan their color stories and purchase fabrics.

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Who is involved in forecasting? (cont.)

  • Examples of color services
    • Standard Color of Textile Dictionnaire Internationale de la Couleur
    • Pantone, Inc.
    • International Color Authority
    • The Color Box
    • The Color Marketing Group
    • Concepts in Color
    • Huepoint
    • Color Portfolio, Inc.

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Who is involved in forecasting? (cont.)

  • Fashion merchandisers
  • Retail store owners/managers

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Activities in fashion forecasting

  • Making and reporting predictions based on logic, market research, and instinct
  • Coordinating information gathered from fiber, yarn, and apparel companies, and textile shows worldwide
  • Analyzing the fashion press, visiting the world’s fashion centers, and observing fashion leaders

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Activities in fashion forecasting (cont.)

  • 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 the pros and cons of currently offered merchandise
      • In-store informal interviewing to assess what customers like and dislike and what they want but cannot find

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Activities in fashion forecasting (cont.)

  • Conducting marketing research (cont.)
    • Market research
      • Study of market conditions
      • Observation of consumer lifestyles
      • Study of current events, the arts, and the mood of the public

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Activities in fashion forecasting (cont.)

  • Conducting marketing research (cont.)
    • 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.

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Activities in fashion forecasting (cont.)

  • Conducting marketing research (cont.)
    • Comparison shopping
      • Evaluation of currently popular designer collections
      • Review of fashion publications, catalogs, websites
      • Observation of “street” fashions and celebrity wardrobes

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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 and DNR

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Sources of information

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