WGSN Launches Fashion Sales Trend Predictor

UK trend forecasting business WGSN has launched a crowdsourcing-based product called StyleTrial, which uses big data analytics and consumer panels to predict the likely performance of fashion items, and to identify best sellers before they hit the shop floor.

WGSN, which is owned by media giant Top Right (previously known as Emap), uses forecasting, analytics and custom research techniques to study fashion season trends in apparel, accessories and interiors. In 2013, the firm acquired Latin American consumer behavior forecasting firm Mindset Communicaco e Marketing, and it has since merged knowledge and expertise from the latter business with its trend forecasting and technology tool StyleSight, to create a consumer insight and market strategy service called Mindset.

The StyleTrial solution is powered by the same software as music track-testing tool SoundOut, and combines crowdsourcing methodology with big data analytics, applied to the fashion industry at scale. Using StyleTrial, clients are able to obtain consumer feedback from a tailored demographic, and identify best-sellers, poor performers, optimal price points and size ratios before orders are placed.

Sansan Chen (pictured), the company's EVP of Product, comments: 'Historic data is a valued, core asset of many modern retailers, but as fashion gets ever faster and the consumer is better connected, better informed and more influential than ever before, retailers need a more accurate predictor. StyleTrial enables clients to understand consumer opinion before they commit to a product, meaning our customers don't need to wait for sales figures to uncover a million-dollar mistake.'

Web sites: www.wgsn.com and www.soundout.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.