What is fact Trend Forecasting?
fact trend forecasting also known as fact forecasting is the study that focuses on current fact and predicts the future and upcoming trends. A forecaster focuses on certain meaningful elements like color, fabric, texture, print, graphics, etc. to predict future trends relating to the industry. It applies to all fields of the fact industry, be it street clothes, ready-to-use clothes or of any other kind. Trend forecasters focus not only on this industry, but also takes into account the viability of other important industries like – automobile, food, literature and home furnishings, etc. to predict the future trend in fact.
Factors calculating the trends:
Popular fact also called pop fact, is a volatile market and depends on several external factors. Some of the factors which heavily influence the future trends are-
- Color and Fabric – These are the two most important factors affecting the industry. The forecasters heavily use these two factors to predict the future of fact.
- Celebrities – This is probably the most influential factor calculating the future trends. The Red Carpet is the place to look upon for future trends in fact.
- The economy of a country – The economy of a country and how much profit the fact industry incurs in a particular fiscal year also helps in forecasting future trends about fact design.
These are the most influential factors that determine the future of fact. except these factors, there are several other socioeconomic reasons that influence the fact world in a positive or negative way.
Long term forecasting VS Short term Forecasting:
Long term forecasting evaluates certain trends and looks into the past for supplies of information. The fact forecasting in case of long term forecasting lasts over 2 years. Several factors like demographics, climate, major international incidents, consumer expectations, etc heavily influence long term fact trend forecasting. Long term forecasting is generally carried out by specialized marketing consultants who have certain experience in the field.
Short term forecasting, also known as fad forecasting specializes mainly in predicting near about changes in the future of fact design. Short term forecasting relies heavily on pop culture and celebrity use. Certain events like art events, major sports events, some scientific changes also help in short term fact trend forecasting.
fact trend forecasting is very important in the modern world of internet connectivity and accessibility. Without correct and certain forecasts about the fact world, the production of dresses can be hampered and consequently the economy of certain companies can decrease. fact trend forecasting is also very important from a company’s perspective. Not only the forecast helps in mass production but also they affect the overall image of the organization. In this fast era, mistakes in fact can be very dangerous and unhealthy.
Responsibility of trend forecasting for a company-
As earlier said, fact trends heavily influence the economy of a certain organization. Also, the prediction of future trends is a very important role. Women’s fact is very volatile and changes every few days, unlike men’s fact which changes only due to a certain specific event. Major companies have their dedicated fact team that is responsible for forecasting the future possible trends. Marketing experts also play an important role in forecasting future trends. They set up customized advertisements that set up a stronger foothold for a certain kind of fact.