| The ability to detect trends and to interpret | | | | Spotting trends is a learned abilityit doesnt |
| that knowledge can tell you what consumers | | | | require you to be trendy. It requires |
| want now, but also help you predict what | | | | disciplinemake it a habit to research trends |
| theyll be looking for tomorrow. This can | | | | daily. There are many avenues you can use to |
| really give a retailer a big edge, | | | | help you research: |
| particularly when it comes to selecting | | | | |
| product lines. | | | | Most major search engines offer keyword |
| | | | tracking tools that show you how many people |
| What is a Trend? | | | | are searching for a given item. Worldwide |
| | | | Brands offers a Market Research Wizard that |
| A trend is not a group of popular items that | | | | can show you how likely a product is to be |
| everyone is buying. A trend is an expression | | | | successful based on market statistics. |
| of what matters to consumers at the momentits | | | | |
| a sign of what theyre excited about. A trend | | | | Consumer magazines and websites are great |
| can actually give you many ideas of what | | | | sources for gathering information. |
| products might be popular in certain groups. | | | | |
| The trend towards natural living, for | | | | Check out trade shows, associations, and |
| example, could inspire a whole line of | | | | publications. Though trade publications tend |
| products because thats what people are | | | | to be pricy, the information in them is the |
| concerned with and are thinking about. And | | | | result of millions of dollars of research and |
| trends grow and evolve and morph, but they | | | | projects out from 12 to 18 months, which |
| have rhyme and reasonunlike fads, they dont | | | | really gives you a jump on buying trends that |
| just come out of nowhere. | | | | havent even evolved yet. |
| | | | |
| Trend Analysis | | | | The media can provide some really valuable |
| | | | trending statsnewspapers often give numbers |
| Lisa Suttora of defines trend analysis as | | | | and demographics. Look for indicators of |
| looking at a definable group of customers | | | | growth and decline. You want to get in on the |
| that you can get coming back time and time | | | | upswing of a trendnot when its on its way |
| againYoure not sourcing products in a vacuum, | | | | out. Document everything so that you have it |
| because you know exactly what types of | | | | all in front of you and dont forget anything |
| products people are looking for. Though it | | | | important when you sit down to analyze the |
| may initially take you more time to study | | | | results of your research. |
| market trends in the beginning, it will save | | | | |
| you a lot of time in the long run. You wont | | | | The key is to be consistent and do your |
| be trying to figure out why you cant move | | | | research daily. Says Suttora, Trending |
| products, and you wont be wasting money on | | | | information is not something you do once and |
| just guessing at what you think will sell. | | | | then stopEvery successful business owner is |
| | | | going to continually be reinventing their |
| How Do I Become a Trend Spotter? | | | | product lineon an ongoing basis. |
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