Market trend analysis is is the bread and butter of success. Just like any company, the fashion industry must meet customer demand to sell their product and be successful. In November of 2022, I taught my designers how to analyze the market for fashion trends to implement into their designs.
The Fashion Industry is Still a Business
“What do you study?” they ask, shaking my hand enthusiastically.
“Marketing data analytics and finance,” I respond. “With a minor in fashion.” As the last words slip from my mouth their eyes widen and their expression changes from mild amusement to actual interest.
The word “fashion” never ceases to carry a whimsical air. Whether an expert or amateur in the industry, there is an understanding the world of runways, oriental textiles, Black Friday shopping nightmares, french curated fragrance, and stockout catastrophes is unique.
The fashion industry is a unique world, and therefore, it is easy to forget that it still operates as a business abiding by the rules of supply and demand. It is whimsical, unique, and beautiful–but just like Walmart or your local burger joint–each company survives from the sale of their product. Therefore, to be a successful, a designer must be capable of analyzing the market for fashion trends so that they can meet consumer demand.
Market Trend Analysis Workshop
Trend analysis is the process of looking at the market (media, magazines, street style, etc.) to predict customer demand. This process is crucial as it helps companies understand what clients want so that they can meet that need and make a sale.
My goal as the director of Liberty University’s fashion show was for my designers to learn how to preform trend analysis for their 2023 fashion show designs. Not only would it make our fashion show a fashion show (less princess dresses please–more avant garde and fashion forward, thank you!), but it is a crucial life long skill I desired them to know. In November of 2022, I hosted a workshop teaching my designers how to study the market, predict fashion trends, and implement the trends into their own designs.
I was first introduced to the importance of trend analysis during my merchandising internship with Louis Vuitton during the summer of 2022. Tasked with the duty to discover what clients were asking for, what competitors were providing, and what we were lacking as a company–I scour the web. I began ready Woman’s Wear Daily on the daily, instagram hashtags became my new best friends, and I developed deep-dive internet skills that any high-school girl would be envious of. Before I knew it, I began to realize the complexity of fashion trends and how every company was either a leader of trends or a follower. Learning how to analyze the market for trends was a game changer for a company’s success.
Four Steps of Market Trend Analysis
I taught my designers four simple steps:
- Locate your sources (magazines, Instagram, fashion shows…etc.)
- Locate your leader brands (what is Chanel doing? Fendi?)
- Look at minor brands (are they following? are they doing something different?)
- Look again, and locate commonalities
(See the pdf for recommended sources, brands, and templates.)
As many grew up sewing from personal inspiration, it was difficult for my designers to create what the clients wanted. Nonetheless, an overwhelming majority of these individuals were extremely grateful for the challenge. Rather than princess dresses and costumes, the show included 2022 denim trend inspirations, draping sleeves inspired by Japanese avant garde, and retro print detailing.
Never underestimate the importance of staying up to date on trends. While not a designer myself, I always do my best to constantly read and watch the latest press releases. The industry moves too fast to fall behind!
Leave a Comment