A trend is a statistically
significant change in performance of any measured data and this change
is not due to any variation in the manufacturing process. Fashion trend
forecasters predict about the forthcoming colors, fabrics and styles
that the consumers would be wearing in an year's time.
The information obtained from a fashion forecast is important to
manufacturers of clothes and fabrics, designers, suppliers of fabrics,
dyers and retailers. It is basically a gamble on the consumer's choice
and spending power.
Usually the change in the measured data is brought about by economic
factors(recession, booming economy, low inflation) and on feedbacks and
inputs from manufacturers, retailers and consumers.
A fashion trend is forecast by professional companies whose mainstay is
forecasting trends. The fashion forecasters follow certain parameters on
the basis of which fashion and industry trends are followed:
Macroeconomic Factors: The factors of economy that
deal with the overall economic components like gross domestic product,
balance of payments, etc. The macroeconomic factors are:
- Recession: Whenever there is a decline in the
general economic activity, the spending power of the general
populace decreases. Depending on the economic situation, the trends
would be set for the forthcoming seasons and year.
- Boom time: When the economy is booming, the
markets are rich with the cash flow. The spending power of the
fashion conscious population is also very high. The trends are set
according to the mood of the consumers and the kind of money they
are ready to spend.
Direct Inputs from Textile manufacturers: Textile
manufacturers coordinate with designers of garments and textiles and
take into consideration the feedbacks obtained from the consumers. On
the basis of inputs obtained, decisions are taken on the kind of
textiles to be manufactured for the forthcoming seasons. Fashion
forecasters play the deciding factor in the type of fabric that would be
manufactured. The continuous researches in development of yarns, threads
and fabrics help the forecasters in their predictions.
Consumer surveys and preferences: Consumer sentiment
is the most important factor in fashion trend forecasting. Consumer
sentiment is decided by their spending power, preferences and sometimes
influenced by what their “idols” or “icons”(movie
actors, pop stars, sportsperson, etc.) wear.
Guidelines by Government agencies: Fashion trends are
also influenced by directives from the government agencies, chambers of
commerce and textile federations. The production of fabrics is regulated
by the supply of raw material which is directly influenced by crop
yield. If the crop yield is low, government regulations come into play
and that means that manufacturers would have to look at other sources of
fabrics.
