Fashion Merchandising 3.00 Understanding fashion trend and forecasting 3.01 Understand the use of data in fashion forecasting

Key Terms Color: Hue. The most exciting design element. Graphics: visual presentations such as artwork, drawings or designs including type Hue: The technical name for color; the name given to a color, such as red or yellow, that distinguishes one color from another

Pantone: Color codification systems and technology for the selection and accurate communication of color for textiles as well as for the graphic design, printing, publishing, and plastics industries Silhouette: The overall form or outline of an outfit or clothing style.

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.

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?

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.

Who is involved in forecasting? 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? (cont.) Examples of fashion services Doneger Creative Services Promostyl Carlin International Here and There Trend Union

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.

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.

2016 Color Pantone Color of the Year

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

Activities in Fashion Forecasting ( 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

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

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.

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

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

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