Fashion Forecasting

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Fashion Forecasting
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Fashion Forecasters

• Business consultants hired to help predict
  fashion trends as much as 18 months in advance
• Clients of fashion forecasters receive weekly or
  monthly predicted consumer trends

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Reporting Services

• Organizations that report constantly changing
  market trends that will have an impact on the
  products that buyers will be purchasing

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Resident Buying Offices

• Organizations that provide consulting services to
  retailers. Sometimes RBOs are owned by the
  retail corporation.
• Organizations located in major market areas for
  the purpose of providing buying advice and other
  market-related services

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RBOs are Important

• Due to changing nature of fashion
• Group purchases
• Expense reduction
• Exclusive merchandise rights
• Pool of information and knowledge

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Other Sources

• Internal Sources
• Employees
• Management
• Store Records
• External Sources
• Customers
• Magazines and Trade Publications
• Vendors
• Trade Associations
• Comparison Shoppers

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The WHY of Forecasting

• Why is something happening?
• Why was it introduced?
• Why do consumers like it?
• Or why do they hate it?

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The HOW of Forecasting

• Social, technological, economical, environmental,
  political arenas

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Some Sources for You

• Fashionsnoops.com
• Fashiontrendsetters.com
• Style.com