E-Commerce Fashion Forecasting
How Changing Trends Can Make or Break Your Business
It doesn’t matter if you are paying attention or not: trends are changing at a considerable speed and impacts your business in a significant manner; more than you can imagine. They decide whether your branding decisions and product placement are correct or not and whether your potential customers take your products as new or different. You can be an organization that follows the latest fashion trends, or you can be an organization that begins one. Either way, if you are running an e-commerce store, you should always be on top of the fashion trends.
Thinking trends as a rowing boat. Have you tried rowing a boat against the water current? Even though it is extremely tiring and challenging? E-commerce business is something like that, difficult to manage and operate when you are not staying on the line with the latest fashion trends, and to find out that your product and branding decisions are not matching the current trends.
With your daily buying decisions and product sourcing, you can choose to go in line with the current trends or against the trends. Since fashion E-commerce is such a time-consuming business and works around many dynamics that it is easy for a start-up business to forget about the most critical aspects of fashion: that it is a business of selling fashion trends which are changing at a considerable speed.
Trend Forecasting Sources
There are many businesses out there not willing to spend on trend forecasting agency, especially during the initial stage of the business. Most of the leaders and founders of these organizations become the fashion forecaster, and it makes a clear sense because it allows them to create a direction and vision to operate the brand.
Below are a couple of sources that can help you launch your brand’s forecasting research.
1) Tradeshows: Fabric and fiber markets at tradeshows are fantastic platforms to research about textile trends, styles, and colors. If your E-commerce business is situated in the United States, you can participate and attend tradeshows in Chicago, Dallas, New York, Los Angeles, and more.
2) Fashion Shows: There are many fashion retailers out there who call themselves as a prestigious fashion brand, but their collections have nothing to do with fabrics, styles, and colors. It doesn’t matter if you are a slow fashion brand or a fast-fashion brand selling screen printed backpacks, you should have knowledge about designers and the latest trends revolving in the market. The best you can do is research and test on your own. When owning a fashion business online, you should know which color customers like the most, which design is popular and which brand has the highest sale.
3) Manufacturers: If your manufacturer is situated outside the country, there is a possible chance that he/she knows more about fashion than you do. Why? Mainly because the manufacturer works with plenty of other brands just like you, and probably manufacturing for brands bigger than you. These manufacturers are skilled and knowledgeable and know patterns, colors, styles, and designs. If you develop a good working relationship with these manufacturers, they can be a reliable source for your entire business endeavors.
4) Celebrities: Celebrities know how to dress fashionably since their livelihood depends on it. They hold power to arouse new fashion trends. The type of colors, designs, patterns, and styles they are carrying and if people like their fashion style. You should have appropriate knowledge about all of this.
5) Working with Emerging Designers: Keep a regular check on emerging designers that are making a name in the fashion market. If they are earning a decent reputation due to their work in the media, there is a possible chance that their works are the talking aspect of the fashion sense. Follow their fashion sense and use it wisely in your online business.
The best part about trend forecasting is that it pressurizes you to act like a fashion organization and gives you enough exposure to run ideas for your website. When managing an online clothing store, don’t just look at forecasting to formulate the upcoming fashion trends. It may be a little difficult for you to get this done if you are starting your business online and don’t any experience in forecasting. To achieve this, you can employee experienced fashion forecasters when you have the budget and means to expand your E-commerce business.