Data analytics in fashion, the health concerns of the near future and better innovations to win shelf space. That and more in today’s episode.
Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s Executive Editorial Director Bethan Ryder takes us to New York, San Francisco and Frankfurt. Hear from the friendly faces of our Consultancy, Food & Drink and Sales teams.
Watch the full episode below or read on for highlights of this episode:
Q: What data sources can a fashion brand use to inform our decisions?
“We have so much data at our fingertips, from consumer surveys and shopper behaviours to stock inventories and insightful social media data that can help brands to pinpoint what categories to focus their energies on, which to reduce, or which seasons, trends or colours to prioritise. We apply cutting-edge data science modelling techniques on top of this data to model future demand and make precise recommendations for our clients. But it’s the combining of that data (the quantitative) with our analyst industry expertise (the qualitative) that can make the difference to a brand.”
– Warren Satchell, Consultant Director, WGSN
Q: What health concerns will be on consumers’ minds in the next few years?
“We’re going to keep thinking about our immunity when it comes to health and wellness concerns, and ways to improve the immunity include having a healthy gut. New prebiotic-rich foods are helping us do that. We have prebiotic sodas popping in the US, more functional food with prebiotics and lots of natural vegetables and high-fibre foods.”
– Kara Nielsen, Director of Food & Drink, WGSN
Q: How can consumer brands innovate faster and better to win or defend their share of shelf space?
“Consumer goods brands need to pick up consumer trends quickly and turn them into relevant products faster. This will help retailer clients differentiate, giving them a reason to put a brand on the shelf in times when physical shelf space for brands is shrinking in a market that is getting more competitive.”
– Boris Planer, Head of Consumer & Market Insight, WGSN