The next trends in home decor, using predictive analytics and TikTok’s impact on youth and women’s fashion. That and more on 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 President and CEO Carla Buzasi takes us to Hudson Valley, Portland and São Paulo. Hear from the friendly faces of our Interiors, Client Strategy and Fashion teams.
Watch the full episode below or read on for highlights of this episode:
Q: What is the most exciting trend in home decor?
“I’m excited about spiritual decor, inspired by our A/W 22/23 Rerooted Nature Forecast. Spiritual decor recalls ancient totems with stack forms that combine either abstract or geometric shapes. In addition, there is a symbology element that speaks to ancestral motifs and astrology. This type of decor tends to be sculptural in nature, with the maker’s hand evident. Key materials include clay, ceramics, stone and carved wood.
– Angela Ringo, Senior Strategist, WGSN Interiors
Q: How can I use predictive analytics to inform product assortment and investment strategies?
“Many of our fashion clients still rely on conventional retail reporting to inform assortment and demand planning. Relying on sales history alone doesn’t take into account the wider market context, competitive set or how fashion trends may evolve over time. As a result, clients often find themselves chasing into trends or over-investing in them.
“WGSN’s TrendCurve+ model uses unique data to track market and demand, then applies machine learning techniques to accurately forecast 12 months out with an average of 90% accuracy. We combine this predictive analysis with our fashion forecasting expertise to identify which trends are important, the stage those trends are at and how they will evolve for future seasons.”
– Tommy Fahrner, Client Strategy Director, WGSN
Q: As more trends emerge from TikTok at record speed, how can I stay on top of youth-led trends with high commercial potential?
“It is key to understand the main drivers that are shaping consumer behaviour and causing the success of certain trends as they’re often very similar overarching themes. Brands need to keep their finger on the trends that respond to emotional drivers as they will resonate with Gen Z and therefore will be most commercially successful.”
– Sofia Martellini, Strategist, Youth & Womenswear, WGSN Fashion