|Overview: Trend Forecasting|
|Definition||Predicting the future direction of something.|
|Related Concepts||Business StrategyProblem Solving|
What is Trend Forecasting?
John Spacey, updated on December 21, 2015
Trend forecasting is the art and science of predicting the future direction of something. This can be done with analysis of existing data to try to spot the emergence of a trend. It is also common for trend forecasting to be based on the ideas and actions of influential individuals or companies in a particular space. The fashion industry was an early adopter of trend forecasting as a strategy planning tool. Fashion consumers change their purchasing behavior rapidly. It is common for a particular garment, style, color, print, material or accessory to become incredibly popular for one season. Fashion forecasters use a variety of methods to predict these trends including the work of influencing designers and early adopters of fashion trends such as a demographic of young women in a particular urban area such as Paris, Tokyo or New York.
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