Predicting the Future from the Past!
RETAIL BESTSELLERS OF S/S’17 GIVE WAY TO TRENDS FOR F/W ’17 AND S/S ’18
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.