In an era when everything online is seemingly defined as a trend, we have spoken with our experts to answer the big question: What is a trend?
As the world’s leading trend forecaster for over 25 years, we will help define the meaning of trends, show why trends are still relevant, reveal how to identify them and discuss how they are a competitive edge to succeed in any market.
The definition of a trend
In its traditional sense, a trend is a general shift in how people, communities and societies think, feel and behave. Trends rise slowly over time and travel across industries.
Trends are not fads. Fads come and go fast and often don’t involve cultural shifts. Trends are slow shifts in cultural values that reveal how people will choose to live and what they value and need. Therefore, trends disclose the products and experiences people will seek in the future.
Another misconception of trends is that they relate only to the fashion and beauty industry and only involve predicting styles, colours and shapes consumers will wear. While trend forecasting is crucial for these industries and product development, it is even more critical at a strategic level across industries, such as consumer electronics, food and drinks, financial services and retail.
Where do trends come from?
Various factors and forces can influence trends. Sometimes, a trend results from gradual changes in attitudes, interests and opinions, brought about by the actions of influential community members and gradually moves into the mainstream. For example, technology’s growing role in our lives is a trend that has evolved over centuries.
Trends can also be triggered by unexpected events that force us to reconsider our way of life. The unprecedented impact of the Covid-19 pandemic is an example of how a sudden catastrophic event can quickly change how we live.
It’s important to know that not everything new becomes a trend. The factors that drive a trend are much bigger than individual preferences or desires. They are powerful enough to change values and life goals, originating long before the trend impacts the mainstream.
WGSN can accurately map trends using STEPIC, our proprietary methodology which enables us to confidently track and map these macro factors, acknowledging what will become a trend and deciphering the true insights and emerging signals.
Trend versus trending
TikTokificaton has spawned an endless stream of aesthetic fashion and consumer trends. But what's the real difference between what's trending and trend forecasting?
A TikTok trend can be a knee-jerk reaction or a fleeting moment, while trend forecasting supports businesses with extensive data and expert analysis. This approach helps companies avoid wasted investments in research and development.
Ultimately, trend forecasting is the key to staying relevant and the catalyst for transforming global industries.
The question remains: are trends still relevant, and for whom?
Trend forecasting is a complex process that requires rigorous observation to track the signals of change and provide others with precise, focused, agile and accurate information.
The old “I produce, you buy” model is no longer applicable and trend forecasting has become an irreplaceable tool for companies who want to get ahead of consumers’ priorities. Shoppers have more choice and access to information than ever – some reliable, some less so.
For brands, basing business decisions on reliable, rich data sources has become imperative and the foresight and experience of market experts are non-negotiable.
When identifying trends that align with a brand’s DNA and target customers, timing is everything. Adopting a trend too early or too late can negatively impact growth and profitability.
Still unsure if something is a trend or a fad?
We know it can happen. And you are not alone. As a company that has led the world of trend forecasting for 25 years, we know that for someone looking from the outside, it can be overwhelming.
In addition to providing professionals with our trusted forecasts covering consumer trends for the next 2, 5 and 10 years, we’ve introduced a new forecast called TikTok Analytics that relieves our clients of the anxiety of chasing every new thing emerging on social media. By combining extensive data analysis with our expert validation, we give an accurate lens on the level of investment one should make in them.
Curious about how it works? Find out more here.
About WGSN Trend Forecasting solutions
To avoid missed opportunities and wasted investments, it’s important to strategise and plan accordingly. WGSN can help.
Our accurate forecasts provide global trend insights, expertly curated data and industry expertise to help our clients understand consumer behaviour and lifestyles, create products with confidence and trade at the right time.
Get it right first – no more guessing. Request a complimentary WGSN demo today.