How trends forecasting can help retailers better connect with their customers
In the fast-paced world of retail, staying ahead of the curve is essential. Or so they say… but what is “staying ahead”? At The Better Trends Company, we reject the idea that you have to jump on the latest colour, fabric or print. The way you gain a competitive edge is not by doing what everyone else is doing or doing something that doesn’t feel right for your brand! Through analysing shifts in consumer behaviour, cultural influences, and industry developments, our trend forecasting allows businesses to anticipate what's next and align with their customers’ values, enabling them to make informed decisions that can shape their success, while staying true to their brand identity.
But what exactly is trend forecasting? At its core, it's the practice of identifying emerging patterns and preferences that are likely to become popular in the future. We don’t use a crystal ball! We rely on data, research, and a comprehensive understanding of the market. By studying a wide range of factors, including fashion, technology, design, and social movements, we decode the now to understand the next. And if that sounds too confusing, all you really need to know is; the real essence is people – it’s always about people and their needs, values and behaviours.
This is why, for retailers, trend forecasting is a game-changer. We hear so many brands say, “I hate trends!” – so do we, when they are all about pushing a colour or print for no reason. Trend forecasting goes beyond the latest Tik Tok fad and concentrates on big ideas around what your customers are doing and why; it empowers businesses to proactively shape their strategies, product assortments, and marketing efforts, and ultimately drives sales.
Of course, we do recommend colour palettes, styles of prints and finishes that compliment the mood and themes that make up any trend. But we also ensure that our customers understand the ‘why’ and how to apply the right trend, design and styles for their brand. This proactive approach reduces the risks of buying, of markdowns or confused assortments, while increasing the chances of capturing consumer attention and loyalty.
This also applies to all marketing and comms: by leveraging trend insights, retailers can craft messages, visuals, and experiences that speak to the aspirations and values of their customers, forging a deeper connection; making their comms meaningful, useful and targeted.
We also work on a larger, strategic scale for brand positioning and offer; by identifying evolving macro trends, such as the growing preference for experiential and ‘phygital’ retail or innovations in fabrics, businesses can consider their next steps and growth trajectories. This could mean incorporating bio-materials into your designs and supply chains or transforming brick-and-mortar stores into immersive destinations; understanding trends allows retailers to stay relevant to emerging customer needs.
So our message is, don't underestimate the transformative power of trend forecasting. Embrace the art of projecting what's next, and you'll be primed to captivate customers, outshine your competitors, and shape the future of retail. If you need a hand, get in touch for a chat: firstname.lastname@example.org