The future is here, and the world is moving faster than it ever has before. Instagram, TikTok, Pinterest, YouTube, and Twitter, just to name a few, are the forefront of social media apps, gaining millions of accounts each day. We are seeing a new category of famous figures pop up, known as influencers or content creators, inspiring and informing their followers purchasing decisions and personal style. Fashion trends are popping up and disappearing in what feels like a matter of days. Runways and magazines can no longer be the only places for an inside scoop. Instead, the internet already knows sometimes before they do.
Trend forecasting is a competitive and integral part of the fashion industry, they are the leaders of how the forever evolving trend cycle will impact profit, inventory, image and sustainability for their given brands. By staying ahead of the curve on consumer behaviours, they can communicate with designers and buyers to quickly get products made and onto the shelves.
In the fast-moving times, responding to the demand of the market has become difficult, and trend forecasters are now needing to reshape their qualitative and quantitative methods to meet the future, which poses the question: How can it be done?
Social Media
Trends can come from anywhere, historically from pop culture, politics, economics, and all things culture and society have to offer. Mini skirts and trousers sported during the Women’s Liberation Era, or MTV and celebrities, influencing the start of the Y2K fashion craze. Sian Sabean, a George Brown Alumnus and Trend forecaster at Thrifty’s Family of Brands here in Toronto, says “Social media is the new trend incubator.”
Contracting research based on posts and up-and-coming fashion influencers is a skill trend forecasters will need to gain and is essential to staying modern. “Cultural movements and social media are probably the biggest drivers right now. Street style and runways still matter, but they often reflect trends that have already been building online”, Sabean says. “I look at everything from TikTok aesthetics and music videos to consumer sentiment shifts, anything that signals a change in how people want to express themselves.”
Helpful Tools
The biggest topic over the past years is artificial intelligence and how it can be used in our world. For good or for bad, AI is here and not going anywhere. In this era currently, technology is being trailed and taught to the public for both work and at-home uses. Examples are writing emails and resumes, creating images, finding information, and curating your playlists. It is already being used in the fashion industry as well. According to Sabean, “AI is becoming an integral part of trend forecasting. We use AI-driven tools to track emerging keywords, analyze colour and silhouette data from millions of online images, and identify what’s gaining traction on social platforms.” Relying on this intelligence speeds up the process and requires immense capabilities that a person would need to look at all the data across the internet. With this, you can get all hashtags, posts and videos categorized and presented in front of you.
WGSN and their TrendCurve AI forecasting tools look over social media pages, images, and search histories. “Tools that analyze visual data have become key,” Sabean says. A report from WGSN states that over 93% of their forecasting is accurate, which is great compared to humans, as their accuracy can differ each time based on bias and methods used. AI aspects such as this website can lead to higher profits, accuracy in demand planning, and a greater marketing plan.
Human vs the machine
Artificial Intelligence has already taken over many jobs, such as customer service, assembly lines in factories, food deliveries, and driving. Companies experimenting to see where it can fit inside their businesses is important because it can help reduce costs, but it can also put many out of their jobs. Trend forecaster is a career that can be hard to find a balance between, as it has creative and analytic aspects to the job. Sabean states, “AI can process data, but it can’t interpret culture in a human way. The emotional, intuitive side of forecasting, understanding why something resonates, or how it fits into a larger social mood, comes from lived experience and empathy.”
With evidence pointing to it, AI will always be had and used by many. Trend Forecasters knowing how to have a relationship with it is where it will get complex. When asking Sabean, she says, “I think it’ll be a true partnership. AI will handle the data-heavy side, real-time analytics, predictive modelling, and global pattern recognition. While human forecasters focus on emotional intelligence, creative direction, and context.” The future of forecasting is now, and social media and AI will impact not only Sabean but all trend forecasters. “The strongest forecasters will be those who know how to use AI without losing that human touch.”
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