Case Study of Trend Forecasting Company - Essay Example

The Trendstop.com online company Thesis ment: this paper seeks to examine the Trendstop.com Company comprehensively. The paper analyses the company’s history, inception, previous and current performance, its main competitors, its strategies, and future plans for its continued survival in its specific area of business interest. Introduction The Trendstop.com venture is a company that deals in the fashion industry. It is a reliable and one of the most sought-after fashion publicity equipment for the fashion industry top technicians. It boasts of in excess of 1,000 customers, who include retail ventures, influential brands, public personalities, manufacturing ventures, advertising outlets, and journalism professionals. The Trendstop.com virtual conglomerate is an expert trend forecasting and scrutiny site that provides the excellent early recognition regarding the current and future inclinations in the fashion industry (Kathryn, 2008:38). Currently, the company boasts of a remarkably excellent performance record in predicting the latest and hottest trends. As a result, it is no surprise that the company now controls a striking customer platform of thousands of exceptional subscribers, who include top-rate superstars, key retailers, and universally recognized apparel manufacturers. Presently, the venture manages a massive international set of connections that comprises of previous designers, trend journalists, stylists, purchasers, and street style scouts. The company strictly updates its website, www.trendstop.com, on a daily basis. The website comprises of over 500,000 germane fashion imageries and hundreds of comprehensive trend information that covers all real and potential fashion factors. The particular areas under the company’s spotlight range from catwalks and fashion shops to trade fairs and street technique. Presently, the venture manages a massive international set of connections that comprises of previous designers, trend journalists, stylists, purchasers, and street style scouts. The company strictly updates its website, www.trendstop.com, on a daily basis. The website comprises of over 500,000 germane fashion imageries and hundreds of comprehensive trend information that covers all real and potential factors of fashion. The particular areas under the company’s spotlight range from catwalks and fashion shops to trade fairs and street technique (Kathryn, 2008:69). Popular with the world’s trendy youth and relevant with the fashion leaders, Trendstop.com is, by far, the most reactive, and, as a result, has the upper hand on the other forecasting spots. This is mainly because the company always practices a habit of uploading the newest trends statistics almost immediately after receiving it. Management Jaana JÃtyri, a Central Saint Martins alumnus, is the ultimate head and managing director of The Trendstop.com business undertaking. She attained a First Class Honors Degree in the Fashion Marketing course and headed on to Gerber Technology, where she undertook her initial employment experience. While there, she experienced firsthand the extent of difficulty that the technical CAD programs presented to designers. Thus, after intense research an analysis on the problem, she invented effective design tools that greatly helped designers to avoid the tediousness of precision drawing. According to her inventions, the natural sequence was to generate exclusive trends, which relied on templates that based on the latest and current trends. This came to be one of the main factors behind the phenomenal success of the Trendstop.com venture. The reason behind this is that one can download the most recent designs, artwork, and colors in an editable platform. One can then easily use them to construct individual collections that are relevant to precise and interesting fashion predictions. These innovations were what led to the start of Trendstop.com in the year 2002. The venture’s current consumer list includes top players like Topshop, H&M, Mexx, Selfridge, Harrods, the French Connection, and Helwitt and Packard (Kathryn, 2008:72). History of conceptualization The company owes the notion behind its conceptualization to the Winchester School of Art. The Winchester Institute of Art is one of the principal art and design establishments in the United Kingdom., and one of the 25 member schools that affiliate to the University of Southampton. The institution’s tutors and managers are all renowned leaders in their relevant areas of study, and are immensely qualified in all the industries that are relevant to the establishment’s disciplines. They are occupied in up to date professional practice, perform excellent studies, and possess a common dedication to quality in all their teaching activities. The phenomenal accomplishments of the students replicate the institution’s top quality, inventive, and germane learning in art and design. The institution provides the opportunity of the best learner experience, and a luminous and stimulating education environment. The institution’s Fashion and Textile Design discipline program provides an interesting context of learning chances that cover the field of fashion design and endorsement, knitted garments, woven textiles, and textiles in print. The configuration of the Art program is in a way that guarantees its sustained relevance to the modern needs of the style and textile trade. This was realized with the aid of detailed counsel from relevant industry professionals, John Hopkins, and the newest studio manufacture gear (Kathryn, 2008:89). The institution’s specialized studios are comprehensively equipped labor-intensive table looms, which adequately support an extensive variety of fashion-standard weaving systems and finishes. In addition, they also comprise of relevant and contemporary machinery and accessories for art and fashion. For upcoming fashion and devoted specialists in fashion design, the studios offer an widespread variety of advertising, knitwear, natural fiber textiles, manufacturing sewing machines, multi-thread and in-print textiles for style and interior uses. Supplementary input and proficiency regarding certified clothing stands for menswear by the discipline team is available, as well as a fusible and unique visiting vacuum presses. Trendstop.com Marketing Strategy After some time after her graduation, Jaana finally realized her ambition to set up a company to that was to focus on specifically educating clients in relevant and effective digital fashion knowledge and attributes. She had identified a breach in the market for expedient CAD programs that were relevant to individual customer needs and specifications. As a result, she embarked on designing software that offered fundamental fashion blocks and trend focused outlines and structures. Intense collaboration with designers at professionally renowned retailers enabled her to accomplish phenomenal success in the field. She did this through approaching the field of trend forecasting as a natural sequence. In the production of their forecasts, the company initially strives to accumulate enormous amounts of worldwide data, which is relevant to fashion. Its key sources are its trend locators, boulevard style, vendors, runway fairs, present events, selected media sources, and the hosting of relevant beauty and fashion pageants. The venture’s trend band analyzes data regarding the current and budding trends across the globe in order to discover trends. These discoveries are then compressed into main trend themes. The venture then places the themes in their public customer sites as image-based forecast narratives. In addition, it supports them with all-inclusive supportive imagery and scrutiny (Kathryn, 2008:131). The company offers a lot of incentives and attractive deals that greatly influence potential and existing customers to choose the site as their chief forecasting platform. These include A mere 20% commission charge for each trendstop.com website subscription A hefty 20% partner markdown on each individual trendstop.com subscription A 5% commission charge regarding all second-tier associate recruitments or accomplished sales A reliable tracking system that operates using real time statistics A monthly bulletin Efficient and easy promotional advertisement tools and platforms Extremely well informed and affable in-house partner support workforce Trendstop.com operation strategy and mission The trendstop.com venture is a formidable internet-based style forecasting and investigation service. The main mission agenda of the business is the realization of success and sales for its customers. Accordingly, the company always endeavors to implement intense focus on the net value of its psychoanalysis and trend predictions. Furthermore, it has enabled unrestricted access to its comprehensive trend data analysis service, which includes enormous image archives, focused specialized trend news, promising trends, and foremost themes information. The company scrutinizes fashion trends through its unending procedure of vigorous trend corroboration. The venture recurrently assesses the bearing of its major predictions and themes, and follows the augmentation profile of rising trends. It then relevantly re-categorizes them as chief themes, and increases its overall coverage as the themes gain grip in the market. As a result, its members are forever ahead of the current fashion inclination due to the presence and availability of bright ideas and insights from the establishment (Kathryn, 2008:159). Trendstop.com partners These are the ventures that Trendstop.com affiliates within the general processes regarding the execution of its business activities. Pantone Inc is the company’s main counsel on matters regarding color. It is involved with the provision of color strategies and top-rate techniques that help Trendstop.com achieve a perfect convey of color to its clients. Fashion Monitor helps the company in accessing information on upcoming fashion events and their rate of acceptability to the public. Conde Nast performs weekly spot checks on various street looks with the aim of finding out the current dressing style in vogue. WeConnectfashion.com supplies the venture with monthly statements regarding the present state of fashion in America. Handbag.com obtains reports concerning catwalk events and happenings in Europe. BlackBookmag.com evaluates and reports on the London fashion retail outlets and the particular fast-moving goods in a particular month. Fashionfinest.com compiles the recent information relevant to fashion, catwalk inclinations, and A-list personality information. Trendstop.com competitors The venture’s main competitors include various companies that are involved in the advertising of fashion business by exploiting the internet. They include juliamurneyonline.com, f-trend.com, apparelindustry.com, compactdisc.co.in, fashionstyletrend.com, creativedesignqatar.com, fashioncamp.com, swcreatives.com, and fashioninformation.com. However, through unprecedented discoveries in the relevant software, the company has successfully managed to outperform these other companies and remain a force to reckon with in the fashion world (Kathryn, 2008:176). Trendstop.com success In recent times, the venture has emerged as the definitive internet-based style encyclopedia for fashion supporters and industry players worldwide. The company has successfully accomplished in continuously providing an all-inclusive database of outstanding trend predictions and style information that appropriately suits the public segment that is innately interested in fashion and its development. This has made the company to be the first stop for all players in the trend development sector. The venture does not commonly operate according to the accepted rules when generating their online periodical. The venture exploits a much fresher approach to trend prediction than its more conservative competitors do. The venture’s platform is ultra-visual and the website is far more multinational. The company always tries to avoid monotonous industry reports and market data and instead focuses only on fashion inclinations. The whole lot in relation to their webpage is illustration-based, and, as a result, all displayed trends can be acknowledged with exceptional ease. The main drive behind the company’s elemental success is the distinctive partnership existing between its vibrant squad of style innovators, style, and daily life trend monitors and retail specialists. The Trendstop.com panel originates from a broad assortment of fashion fields. In addition, they labor closely with big fashion personalities like trend counselor Caroline Shaw. This directly results to the company being the undisputed authority in matters concerning the correct predictions of future fashion inclinations. The company’s correspondents from across the globe relentlessly supply all worldwide stirring trend and style information back to the Trendstop.com offices in Tokyo and Los Angeles. This data conveys to Treadstop.com through major cities including Milan, Barcelona, New York, and Paris. Through this, they discover and illustrate the relevant colors, textiles, and profiles that possess the potential to inspire the fashion sector positively in the coming future. The company has developed a reliable system of determining trends before they actually hit the market. Trendstop.com strengths The Trendstop.com business is committed to the continuous provision of speedy, alert, and perfect fashion predictions and worldwide trend data through the internet. The business’ large-scale team spots all principal trends speedily. The group illustrates to customers how to process trends into triumphant products that have the ability to outwit all competition. On the company’s webpage, one can still download editable fashion outlines that are compatible with Illustrator and additional blueprint programs. The group has made outstanding performances through the utilization of various key virtues. The company has a faultless administration of advertising promotions and magnetism to audience The group is adept at the discovery of personalized keywords for customers’ clothes. Trendstop.com has satisfactorily proved to its clients that website exploitation is not a theoretical concept. In reality, it is a means of making certain that a client’s projected demographics are suitable, visible, and effective on the internet market base The Future Business activities and technology have combined in recent years, resulting to interwoven systems and strategies for all matters relating to the two. This is a principal factor that all ventures have to consider for their continued existence and survival in the future. In addition, the current innovations concerning business structures, leadership, and market targeting also play a key factor in the rise or fall of business. The fashion industry is a delicate and unemotional business. In this field, relevancy and accurate results are the key factors that determine continued business opportunities and prosperity (Kathryn, 2008:197). The Trendstop.com Company has placed much focus and resources towards various key factors regarding its operations. In the near future, it is planning to enhance its information network in order to get accurate data for dissemination. The venture has also heavily invested in the latest technology and tools that are relevant to its fashion outline. In addition, it is also working on expanding and sophisticating its web page in a way that the consumers will avail updated information and software in real time. Bibliography Kathryn, McKelvey., 2008. Fashion Forecasting. New York: John Wiley & Sons. Read More