Reassessing the product range
May 29, 2020
As consumers consider their product choices much more carefully, they will ultimately be consuming less. Current excessive volumes are no longer sustainable and there will be a huge reduction in the overall number of products offered in the future. Therefore, careful range planning and execution will become key to the success of a range and survival of any business as the post-corona consumer will be even more discerning than before.
Considered Premium Execution
A more cautious consumer will be increasingly dismissing products that are not up to standard in terms of trend, freshness and premium execution or reflect the new post-corona values. Producing high volumes of products at high speeds and under tremendous pressure, is no longer the most profitable option. Taking a ‘thinking’ approach, returning to the pre-fast fashion era of more time spent honing a design and carefully planning a range will prove more profitable and less wasteful. Brands still need to work to shorter product life cycles to stay relevant but also consider the lifetime of products and how product features and consumer values can extend it.
The Innovator Influence
To optimize a collection from a trend perspective, analysis of innovators is essential in pinpointing the emergence of new and seasonal trends. Product ideas gleaned from mainstream market store reports, trade show reports or market research data cannot provide the fresh ideas needed to excite consumers in 12- or 18-months’ time when it reaches the shelves. Identifying the innovators, who make up just 2.5 percent of a population, and honing research to focus on the 2.5 percent innovator sources, will ensure the right future trend concepts are being applied.
A hyper curated range or product requires optimized trend application across all the design facets, from colour, print and graphics, to material, shape and detailing. Each component makes up roughly 20 percent of a product’s sales potential. If one aspect fails, then the rest of the product will not sell as well as it could, wasting effort and resources. A trend can turn into a profit or a loss simply by how well it is applied across all product features and will be vital in selling to the premium execution-demanding, post-covid consumer.
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Trendstop.com is one of the world's leading trend forecasting agencies for fashion and creative professionals, renowned for its insightful trend analysis and forecasts. Clients include H&M, Primark, Forever 21, Zalando, Geox, Evisu, Hugo Boss, L'Oreal and MTV.