Scope of Fashion Forecasting
Scope of fashion forecasting “Forecasting provides a way for executives to expand their thinking about changes, through anticipating the future, and projecting the likely outcomes.” (Lavenback and Cleary 1981)
Long term forecasting (over 2 years ahead) is used by executives for planning purposes. It is also used for marketing managers to position products in the marketplace in relationship to competition. (http://www.fibre2fashion.com/industry-article/free-fashion-industry-article/fashion-forecasting/fashion-forecasting5.asp, 24/4/09)
Short term forecasting is used by product developers, merchandisers and production managers to get a style direction. For short term forecasting most apparel companies subscribe to one or more services, for scanning the market and keep check on the developments in color, textiles and style directions.
Forecasters try to analyse various trends and finally conclude a trend for the forthcoming season (some eighteen months in advance of the season). Color forecasting is an important consideration of yarn mills. It is also important among others who are interested in very early trend decision-making. Fashion forecasters combine the views emerging about color and fabric from the early yarn and fabric trade shows with their socio-economic and cultural analysis. Major trends in lifestyles, attitude and culture in particular music, sport, cinema and television are used to predict changing consumer demands. (http://www.fibre2fashion.com/industry-article/free-fashion-industry-article/fashion-forecasting/fashion-forecasting5.asp, 24/4/09)
Fashion forecasting involves studying market conditions, the life style of people, researching sales statistics, evaluating popular designer collections, surveying fashion publications, observing street fashions etc.
ANALYSIS ON DESIGNER CODING SHEET Question 1: [pic]
|Yes |30 |
|No |0 |
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Long term forecasting (over 2 years ahead) is used by executives for planning purposes. It is also used for marketing managers to position products in the marketplace in relationship to competition. (http://www.fibre2fashion.com/industry-article/free-fashion-industry-article/fashion-forecasting/fashion-forecasting5.asp, 24/4/09)
Short term forecasting is used by product developers, merchandisers and production managers to get a style direction. For short term forecasting most apparel companies subscribe to one or more services, for scanning the market and keep check on the developments in color, textiles and style directions.
Forecasters try to analyse various trends and finally conclude a trend for the forthcoming season (some eighteen months in advance of the season). Color forecasting is an important consideration of yarn mills. It is also important among others who are interested in very early trend decision-making. Fashion forecasters combine the views emerging about color and fabric from the early yarn and fabric trade shows with their socio-economic and cultural analysis. Major trends in lifestyles, attitude and culture in particular music, sport, cinema and television are used to predict changing consumer demands. (http://www.fibre2fashion.com/industry-article/free-fashion-industry-article/fashion-forecasting/fashion-forecasting5.asp, 24/4/09)
Fashion forecasting involves studying market conditions, the life style of people, researching sales statistics, evaluating popular designer collections, surveying fashion publications, observing street fashions etc.
ANALYSIS ON DESIGNER CODING SHEET Question 1: [pic]
|Yes |30 |
|No |0 |
|