Social Media Influence: 5 years ago, Jacquemus and Yuzefi were not well known. Due to the extensive use of social media in today’s digital age, brands that have strong social media presence are able to make their mark when the trends they adopt go viral. Exposure from social media influencers and celebrities flaunting their products on the red carpet helped both Jacquemus and Yuzefi to establish themselves as independent designer brands.
Trends Can Transcend Seasons: Some trends are fleeting and fade quickly but others can stand the test of time.
A majority of the key styles observed throughout 2019 spilled over from Fall/Winter 2018. The chunky chain style and animal prints were still showing high newness in 2019 and early 2020. Although the luxury, premium and fast fashion segments continue to introduce new products with the revamped versions of previous years’ styles and designs, the sell-out for the styles continue to be high. This signals that the chunky chain and animal print influence shows signs of remaining strong during this season.
Next Steps for Brands
More Informed Decision-Making: Depending solely on degree of newness of a specific trend is not sufficient to make an informed decision. It is also important to pay attention to the trend performance through sell-out rates or Omnilytics’ Trends Performance module. Ensuring a holistic view on aspects that contribute to the performance of trends is the key for brands to avoid tunnel vision.
Being able to have a viewpoint from all angles and aspects, brands can monitor competitors and industry leaders to discern which trends are worth adopting. Brands can also analyse historic data of industry leaders and combine with their own data to plan assortment, styles and colours for future collections to improve efficiency of time and cost.
Early Trend Detection: Being first to market is extremely crucial in the current industry where trends can fade just as quickly as they emerge. The speed of launching new products is just as important as launching the right products.
Brands can beat their competitors to market by utilising Omnilytics data to perform early trend detection on styles that start to appear frequently on social media. Brands can also carry out trend validation to complement trend forecasting at the assortment planning stage.