What are the top ways to identify retail trends?

Historical data is absolute gold! but be sure to almost analyse the now. Looking at the seasons and previous years sales are great indicators of what you need, how much you need and when you need it. But, how often do you look at your last few months, weeks and even days? Here there is a lot to discover on trends that you haven't potentially noticed yet! Here lies the opportunity to increase stock holding, improve your visual merchandising and if applicable your website. Often we can over think this but in past experience basic sales data, what, when and volume are enough to analyse what the consumer wants. Retail is just detail

In fashion and apparel, trends often stem from music, entertainment, and the prevailing cultural mood. Trends typically evolve from season to season, building upon prior iterations, such as proportions, coverage and hem lengths. Retail trends are influenced by entertainment, celebrities, and macro influencers. For instance, Barbie's pink theme and Birkenstock's popularity surged after a movie release. Global influence in our interconnected world is crucial. Traveling and observing diverse people and cultures inspire trend identification. Ultimately, filter this info through your target customer. Prioritize delivering what resonates with them, not just following fads. Connect on a deeper level and meet their specific needs.

Savoir analyser les données de son point de vente est la clef pour établir les leviers de développement de son business : clients, produits, pics d’activité… recouper les données et surtout allier le qualitatif du retour des équipes au quantitatif des données brutes !

One of the best way to boost retail sales is knowing the pattern of ones buisness retails as per client requirement It actually repeats and gives you a permanent customer.

Data is everything!!! Other than general seasonal trends, companies with vast product offerings should invest in SEO data mining. Companies should also invest in interactive social media campaigns. Customers will gladly tell companies what they want and what they don't want.

Subscribing to to industry publications to understand emerging trends essentially involves staying updated with a variety of sources specialised in a particular aspect of the retail sector. It's like having a roadmap created by experts, guiding you through the landscape of trends, challenges, and opportunities in the retail industry. By leveraging the knowledge shared in these publications, you can adapt strategies, make informed decisions, and even innovate within the retail space.

Il est important de se tenir au courant des tendances du secteur grâce à des publications qualitatives, qui vont rassembler des données variées pour identifier des tendances, et les expliquer par des faits économiques, sociaux ou societaux auxquels on n’aurait pas songé… on pourra alors les rapporter à notre propre business pour y apporter un nouvel éclairage.

Identifying retail trends is crucial for staying ahead. Sales data is a compass, but the real insight comes from synthesizing this with direct observations of competitors and customer feedback. As a leader, I advocate for a proactive approach—visiting competitors, engaging with staff, and staying attuned to the subtle shifts in consumer behavior. This boots-on-the-ground strategy paired with data analytics ensures a full 360-view of where the market is heading.

Staying engaged in a community of one’s peers is critical. Also, literally taking the time to regularly move through various shopping districts at every economic level. This will make trendspotting accurate, relevant, and easy to manage.

Les marques qui restent successful sont celles qui sont en permanence à l’écoute de leurs clients : connaître leurs besoins, leurs envies, leurs feed-backs sur les nouveaux produits… voilà la clé pour toujours performer !

This approach gives most direct and accurate insights about forthcoming trends.Importantbthing is to listen to customer clearly ,focus on content.The feedback could be anything from a trivial matter to a big thing that could make or a break a business like for example about existing product,some different way of using products or services which can given idea about creating something new trendsetter or tweak in service which can enable score advantage over competition or even help in getting into new geography or customer segments....

Client In situ Observations are important. They increase sense-making and allow a better corroboration of data gathered from other sources. It is real. It is fresh. It can be observed in a longitudinal fashion. This helps adding value to the data.

I agree with all the points in the discussion, and in my opening, I’ll add: •Spend time learning about your clients, observe their style, behaviors, and what they wear and consume. •Teach your teams to listen to what they are saying and uncover the needs behind what they are looking for today. •Follow where your clients hang out and get their inspiration and trends. Data says a lot, but clients tell the whole story.

As a just starting out business, here are some of the places I go to for retail trend 1. Amazon 2. TikTok 3. Taobao 4. Temu 5. Supplier live show 6. Google Depending on country and where my focus is, I use these platforms as a guide to find out what is most popular in terms of searches on these platform. The best thing is, these are all free and readily available and anyone can have access to them. Something you don’t need to wait and can start doing right this moment.

In addition to what already shared, other key ways to identify new trends include the following: - identify the key shoppers' barriers to purchase: oftentimes, the best innovations are simply a response to issues experienced by shoppers which are currently unmet in the market - keep an eye on what the rest of the world is doing: in certain industries there are countries that are inherently more advanced and sophisticated, with lots of innovation coming up and competitiveness among their players. It is important to analyse what they are doing differently and identify whether some of the key trends working there could eventually translate in a different country successfully.

Na minha experiência como conselheiro do varejo da Associação Comercial de São Paulo, posso dizer que as grandes empresas do varejo no Brasil, possuem acesso a informação, pesquisas e a sua própria base de informações (Big Data), mas os pequenos varejos estão com muitas demandas e desafios e quase sempre, o tema fica em segundo ou terceiro lugar, pois sobreviver é o primordial, mas existem muitas opções gratuitas e disponíveis das CDLs e Associações Comerciais, mas precisa de foco e prioridade para acompanhar e poder tomar decisões.