Summary 

• Understanding trend longevity is crucial for sustainable retail investments.
• Market data integration goes beyond trend forecasting by providing real-time insights into consumer behavior and competitor actions.
• Combining trend identification with market data allows retailers to make informed decisions, anticipate demand shifts, and optimize product strategies.
• Real-time data empowers retailers to respond quickly to market changes and capitalize on emerging trends effectively. 

Introduction 

How do you determine what’s trending? Rather, how do you decide what trends will last and be worth your investment in the long run? 

Understanding what is currently trending in retail is one thing; understanding a trend’s lifecycle and longevity is another. 

In today’s world, retailers must look beyond trend-forecasting tools and integrate real-time market data into all design decisions to compete on the global retail scale. 

Without this context, how do you expect to respond swiftly to changes in the fashion industry and make investments that last?

Why Trend Forecasting Isn’t Enough 

Identifying trends can be time-consuming, as retailers must analyze multiple data sources. And, without market data, it’s hard to know whether or not an investment makes sense. Making product and pricing decisions at the design stage becomes a guessing game without competitor data.  

By taking the next step in trend identification, and utilizing market data to gain a full understanding of the trend lifecycle, you can make more informed decisions. This added context allows you to:

• Get ahead of the competition by tracking when certain products/categories are selling out and acting on it before the trend has even been identified. 
• Save time by accessing a consolidated view of internal, customer, and market data, providing inspirational and factual information.
• Empower your decision-making and feel confident by having the data to back your investment decisions. 

The Dream Team: Trend Identification + Market Data

Market data gives you the ability to not only identify trends, but also to track and verify them, so you know when to invest more and when to get out. 

For example, imagine you’re using trend forecasting software that predicts an upcoming trend in bubble hems. While this forecast provides a useful starting point, it lacks the depth and context needed to make fully informed decisions.

By incorporating real-time market data, you discover that several competitors have not only launched bubble hem collections, but are also experiencing rapid sell-through rates and receiving positive customer feedback.

This market context allows you to:

• Identify the gap in your own dress/skirt offerings, confirming that the style isn’t just a predicted trend, but has current market demand.
• Introduce a new clothing line tailored to your customer base, backed by evidence of competitor success and consumer interest.
• Adjust your inventory and marketing strategies to highlight the bubble hem to align with customer preferences and trends.

By combining trend identification with comprehensive market data through a retail intelligence platform, you gain a holistic view of the trend lifecycle, empowering you to make more informed investment decisions and stay ahead of the competition.

Conclusion 

EDITED collects data from multiple sources, including ecommerce websites, social media, and marketplaces, to provide detailed information on products, pricing, inventory levels, and competitive landscapes. 

Our breadth of data – 12+ years across 5B+ SKUs in over 110 countries – and ability to collect and analyze real-time data helps retailers see the full picture and respond quickly and accurately to trends in the fashion space. 

Schedule a meeting here and learn more about how market data can change your strategy for the better. 

Want to learn more? Check out our latest tipsheet: 5 Ways to Identify Winning Trends