Over 50% of businesses fail before the five year anniversary and 42% of businesses fail because there’s no market need for their services or products.
We live in a world where strong competition or complexity of processes certainly makes it difficult for companies to be flexible and it is not easy for them to constantly adapt to the changing trends that the market dictates. A world where companies are rarely prepared to turn their intelligence, creativity and thought to master their “next” level of success. The changes we have witnessed over the last decade will continue with even greater speed. In order to predict the evolution of trends and behaviors, brands should, therefore, adopt and apply the market foresight discipline in order to take advantage of future development opportunities and stand out on the market in the long-term perspective. Market Foresight gives a better understanding of the future needs of the fashion market.
It allows to take advantage of future market shifts and often can result in the introduction of new profitable business concepts that lead to the creation of competitive advantage. Quick management of market foresight allows the fashion companies to anticipate emerging shifts in time to influence the shape of the market. Fashion companies that are unable to anticipate market changes may not only miss the opportunities but if this lack of foresight is a habit, they may also find themselves playing the evergoing catch-up game. Shifts in the market offer significant challenges for survival if fashion brands are slow to detect them. Without market foresight, fashion companies fail to anticipate, react, and respond to changes in the fashion marketplace.
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The pressure of running a successful fashion brand has never been bigger. Budgets are tight, channels continue to proliferate, and personalization is expected. infuture.fashion by using a signature unconventional approach can help, by drawing more precise conclusions and generating deeper insights based on actual data. Our solutions, built on market foresight, creates real “aha” moments and shows where there may be opportunities you otherwise would miss.
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