The term forecasting is not only use in fashion but also in many fields including weather,business and market. Fashion forecasting is the prediction of fashion by means of diverse methods. It is the process of predicting the styles and silhouettes of future fashion, which is the only way to move forward.
Fashion forecasting is a attentive research for customer preferences in terms of fabric, material,price, texture, print,accessories and color,age group and geographical area. The aim of forecasting is to undertake research and analysis by identifying the recent trends.
“We spent a lot of time trend forecasting and collaborating on ways to design a fresh line of fashion-forward, affordable luxury.” – Kourtney Kardashian
“Fashion used to come from one source at a time, be it the street,the runways or the entertainment business. The interesting thing about today is that influences come from high and low-everything from couture to Target.”-Michael Kors
Types of Fashion Forecasting:-
Short-term fashion forecasting refers to forecasting in the near term, in which the focus is on recent national and international events. These events are related to sports,politics, science, art and culture. In fashion terms it is known as immediate forecasting or fad forecasting and therefore requires immediate forecasting techniques. In the contemporary world, the availability of information is online and especially social media provides fashion businesses with immediate insights into current trends.
Long term fashion forecasting is for minimum two years. Long term forecasting includes analyzing and evaluation process by means of number of distinct resources. According to some forecasters rapid update is not essential,they focus on perfection which lasts for long period of time. Accurate forecasting allow to build business with strong foundation, and advance information gives the business time to implement new strategies.
Various Sources for forecasting are as follows:-
Apart from this, given Top 5 sites are relevant source for fashion forecasting:-
3.The Doneger Group