In markets that are regularly changing and trends are frequently being updated, forecasting and planning in the fashion industry are essential. For retailers, this will help when looking to get their fashion lines right. Predictive forecasting is used by many in the fashion industry, including fashion wholesalers, to determine trends and future product lines.
What does predictive forecasting look like
Predictive forecasting will typically take place months prior to the start of a new season. Months before consumers will be considering making the transition from season to season. This predictive style of planning requires lots of research and consideration of previous trends. Used by fashion wholesalers, retailers, PR houses, and marketing experts, it allows businesses and entrepreneurs to stay ahead of the curve. Offering customers the latest trends and fashions.
Predictive fashion forecasting will include a deep analysis of previous fashion trends, reviewing what has been popular and for how long. Reviewing what style-related information can come from this, offering an explanation for why the next trend may occur. Most often this is a natural continuation of a current trend. For example, the return of the noughties style has created natural graduation towards low-rise jeans, further developing a trend of chain belts and noughties-esque accessories.
Successful fashion forecasting will consider different elements that influence the customer’s buying decision. Taking into consideration the social, cultural, and personal influences that draw a customer to a particular piece of clothing.
Fashion forecasting outcomes should then create a flow with which retailers and others can work throughout the next upcoming seasons. Providing a clear understanding of when to buy and when to drop particular fashion items.
The Importance of predictive forecasting
For the fashion industry, being ahead of the curve is imperative for remaining competitive and relevant in such a crowded market. Whether you are an online retailer or design your own clothing line, guaranteeing your lines are coinciding with the current trends is important for maintaining your loyal customer base.
For retailers, understanding what is happening in the fashion world will help them make smarter buying decisions. Investing your seasonal budget into pieces and styles you know will sell.
On top of this, predictive forecasting will help your brand overall. Like when developing your next marketing strategy.
Woking with a fashion wholesaler
When choosing to work with a fashion wholesaler to buy your next fashion retail lines, it is important to understand the steps this wholesaler will take to ensure their products are in line with trends. Providing retailers with everything they need to be ahead of the curve. By selecting a wholesaler with a dedicated team of forecasters, you will be sure to access the very latest and best fashion trends, ideal for your new season stock.
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