by Maria Gray 6 years ago
The hot debate on whether to or not follow fashion trends continues. While others are busy picking sides, amidst this war is a clever entrepreneur that is capitalizing on each rising trend. They identify, spin, and create products to gain an edge in the marketplace. But identifying and leveraging on trends is not an easy task as it may seem. You need to be flexible and skillful to accomplish it. Here are 5 ways to spin mainstream trends to outperform your competitors.
Since the Coming Trends
Sensing trends as they arise is what you need first. Ensure you have the ability to identify a trend while it is still in its budding stage. Meaning, you need to read and watch and harness all the resources in your reach. Therefore, articles, blogs, news outlets, industry reports, and conversations will help you out. Look out for issues people are discussing and see if you can provide solutions.
You also want to use tools like Trendhunter and Google trends to help you pinpoint and validate specific trends for further investigation.
Have Realistic Goals
If your goal is to beat Nike in one year, then that could be too far-fetched and unattainable. Whatever you envision, needs to be realistic and with short-term goals you can achieve. Remember to make the necessary consultations so as to provide the best solutions the market needs. Settling on an idea because it is cheap and convenient to implement might not have value to those you intend to buy. Exploiting a trend becomes beneficial to you only if you can cause the customer to purchase the alternatives you are providing.
Responding in time is essential to meet people’s desires in the fashion industry. You can either take advantage of human resource to identify trends, shop, seek ideas, spin, and market. Or, choose to employ technology plus human efforts to carry out this stuff. You will find out that it is quicker, more efficient, and effective with technology.
Lasting Trends are Good for Business
The bigger the problem, the more people willing to pay to solve it. The longer a trend will last the better your chances of reaping from it. Therefore, distinguish between momentary and lasting trends. Eventually, you want a model that will stick around for a while to profit maximally.
After gathering trends you intend to spin, talk to the prospect consumers to know if your product will meet their needs. Look for frustration signs, which are a signal that they are willing to pay for it. Look for expert insights as well to help you zero in on the best spins for your target audience.
Be the First in Line
The whole essence of sensing when a trend starts is to be among the first to see and implement the idea. Whenever you see an opportunity, know that others have probably seen it also. So, move in fast and grasp the customer loyalty. This way, you stand a chance to enjoy profits before others join the bandwagon.
Mainstream trends will come and go. By identifying trending patterns and adapting fast, you stand a better chance to be successful. Remember to anticipate change and adjust accordingly because it is inevitable.