Trend forecasting is a hidden gem for market research , that not many brands take into account, and is not just limited to the fashion industry, but should really be taken into account for any business . This is different from general market research which focuses on customer perception or competitive analysis. This relates more to the general market trends which are relevant to take into account when developing your brand and product philosophy, anything from consumption patterns to colours, product styles...
1.Research trend forecasting agencies such as WGSN & trend watching regarding their insights, blog posts and free trend reports , These are specific agencies that specialize in carrying trend research according to a variety of market data , niches and customer segments , they have trend reports for everything you can imaging from Millennial colour trends to Gen z jewelry trends..
2.Analyse key leaders within your market so not necessarily competitors but brands with an important authority in your industry , and notice any key patterns regarding their product features, customer experience, communication
3.From all of this research construct a moodboard with visuals and words thinking about those key trends relevant to your product category and target
4.Map out your key trend strategies regarding how you will take these relevant trends identified, to make them your own and give them a personal twist . For example the circular fashion trend is relevant , but maybe you are a shoe brand and to apply this trend you could use recycled fishnet material.....
For any questions regarding how to interpret your trends feel free to email me at mindfulinventions@gmail.com
