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