Predictive Forecasting for Your Fashion BusinessAugust 17, 2022 657 min reading Unisex
Forecasting and planning in the fashion industry are essential for success. In an industry that is continuously evolving, the fast-paced nature of the clothing sector requires businesses to always be ahead of the game. To remain competitive in such a crowded market, and to continue supplying your customers with the latest fashion looks, predictive forecasting should be your best friend. This will help you to identify emerging trends, in order to make the right decisions when it comes to buying from a clothing wholesaler.
What is predictive forecasting?
Predictive forecasting is a well-known practice in the garment industry and takes place several months before the start of a new fashion season. Both fashion retailers and clothing wholesalers will carry out predictive forecasting to plan their collections ahead of time. Since new clothing pieces often go through a lengthy design and manufacturing process, the planning stage needs to happen well in advance.
The process of predictive forecasting considers the trends of the past. Due to the cyclical nature of fashion, modern-day trends are usually inspired by fashions of previous generations, with an added contemporary twist. A review of what was trending the season before, alongside research into what is currently trending, will help to identify which trend could emerge next. Typically, this is a natural continuation of a current trend, taking it into a new season or direction. For example, we have seen the transition from skinny jeans to mom jeans and now we are seeing the reintroduction of flared jeans and low-rise jeans from seasons before.
The result of successful fashion forecasting is the creation of a workflow which can be used to plan retail collections for upcoming seasons. In turn, this gives a clear indication of when and what to buy when placing a new order with a fashion wholesaler like Whispering Smith.
The benefits of fashion forecasting
Predicting the future of fashion provides benefits for both clothing businesses and their consumers. For retailers, fashion forecasting gives them a competitive advantage. Being able to get ahead of new trends before they happen and beat the competition is important for both gaining new customers and retaining long-term ones. For shoppers, it is an opportunity to learn more about the latest fashion trends, giving them an insight into how to create new looks and into the inspiration behind them.
Working with a fashion wholesaler
When choosing a fashion wholesaler to work with, you should be sure to find out more about their design process and how they operate. Here at Whispering Smith, we have a team of knowledgeable, in-house designers who travel the world looking at fashion trends and making predictions for the seasons ahead. By doing this, we are able to supply our retail clients with the very latest fashion trends and the best wholesale clothing pieces to keep their customers happy. That is why we are a market leader in the fashion wholesale industry, supplying top fashion retailers with all the wholesale clothing they need for their latest collections. Stay ahead of the trends and shop with Whispering Smith today for all your fashion wholesale needs.
The author of this article is Anna Marianna White