105 MODULE 1: TERM 1 – Design in a business context
What does a trend predictor do?
A trend predictor gives us clear information about the future trend movements. Teir purpose is to unify all de- sign industries so that all designers can use their sugges- tions to determine the way the world is going. Trends are broad. For example, the age that you get married can be a trend; the social ethnic breakdown of a country affects trends. If the trend is for people to get married later, clos- er to their thirties, the husband and wife would probably contribute to the economy for longer, but this could also have a serious effect on the number of offspring, since it is riskier to start a family later in life, causing health issues to play an important role in procreation. Economics, politics and even environmental concerns can all relate to trends and help define one’s business going forward. At present, the environment is playing a huge role in trends of businesses, such as cars, and designers are finding alternatives to fossil fuels such as hydrogen and electricity in order to minimise pollution and waste being released into our atmosphere.
Te purpose of trend prediction
A company can sustain great losses if the person that they employ as their trend predictor makes incorrect fore- casts. For example, if we look at Vogue, their fashion re- veals a move back to Jackie Kennedy jackets, with round collars, short midrifs, and three-quarter-length arms, with big buttons and oversized sun glasses. If their target market, which would be women between 16 and 29 years of age, finds this fashion in all of the major retail out- lets, except in the shop that you own, because your trend predictor thought that sexy, tight knits were the craze this season, your company would sustain great losses.
So the main purpose of trend prediction is to enable com- panies to safely explore retail future alternatives, without the fear of sustaining losses that they might not be able to recover from.
Te challenge of trend prediction
A lot of the likes and dislikes of society are very much a reaction on the world around them. A trend forecaster needs to have a sharpened awareness of this world. On the other hand an entrepreneur might decide to rather become a trendsetter than a follower.
b o always be
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“Te key to forecasting t a trend is
Copyright © Future Managers
DESIGN IN A BUSINESS CONTEXT
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