Pre­dict­ing the Fu­ture from the Past!


Apparel Online - - Fashion Business -

Fash­ion re­tail is go­ing through a tough time and sev­eral big brands are rein­vent­ing their strate­gies both in terms of how they ap­proach brick and mor­tar as well as how they can cre­ate a multi-chan­nel ex­pe­ri­ence for its shop­pers. A few key dy­nam­ics af­fect­ing the fash­ion in­dus­try at large can be at­trib­uted to the po­lit­i­cal and eco­nomic un­cer­tainty loom­ing strong both in the US and UK. For ex­am­ple, Brexit in the UK has ad­versely in­flu­enced the sourc­ing and man­u­fac­tur­ing costs of many big re­tail­ers.

Apart from this, there is also an over­all shift of con­sumer at­ti­tude to­wards ex­pe­ri­ence rather than buy­ing goods. Peo­ple would rather go on a hol­i­day and spend on be­ing a part of ex­pe­ri­ence-driven ac­tiv­i­ties than buy­ing clothes. How­ever, not all is gloom since both these fac­tors have cre­ated a mas­sive boom in tourism in the UK. Thanks to the weak pound, cus­tomers are now get­ting a much big­ger bang for their bucks when they travel which is en­abling them to shop more in the lux­ury and pre­mium seg­ments when they are on va­ca­tion. There is also a no­table growth wait­ing to be tapped in e-com­merce, which is still a medium not en­tirely ex­ploited by even some of the big­ger re­tail­ers like Boohoo or Asos. Re­tail­ers are also try­ing to woo cus­tomers back in stores through more ex­pe­ri­encedriven con­cept spa­ces.

Keep­ing all these changes in mind this time, we are tak­ing a re­verse ap­proach to fig­ure out what will be the next big thing in fash­ion! We are an­a­lyz­ing re­tail’s best­sellers for Spring/Sum­mer 2017, try­ing to un­der­stand why they per­formed best this sea­son and how they can give di­rec­tion for the next sea­son’s trends.

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