Fashion Trends Analysis And Forecasting Using Web Crawling
The fashion industry is perhaps one of those sectors where intuition gets the better of logic or analytics. With ever-changing consumer preferences, fashion innovations, and distinctive style statements affecting the industry big time, fashion specialists and designers are striving hard to hit the right spots. Brand consciousness has taken a magnanimous shape and form. Even a few years back, consumers weren’t as brand conscious as they are now. Take a look at the fashion and clothing industry, and you will witness the rapid change of choices. Even if it’s a branded dress or costly outfit, it’s getting outdated within a month of purchase.
Not to forget the ever-increasing enthusiasm of movie buffs! All they wait for is the latest movie release and stunning fashion trends it brings along. It’s here that intuition rules. Logical calculations and inferences fail to offer desired insights into consumer preferences, choices, and market trends.
Unveiling the real scenario
Gone are the days when leading fashion tabloids, magazines, and dailies helped designers spot crucial trends for the season. Consumers and fashion enthusiasts had the patience to wait for big releases, fashion runway events, and curtain raisers.
Today, the world has embraced the ‘social’ revolution. Designers are launching their labels and showcasing designs on highly popular social media platforms such as Facebook, Twitter, Instagram, and others.
It’s here that data analytics and web crawling emerge as highly important concepts. Designers and clothing materials manufacturers can extract information from these social media channels thus getting an idea of the real scenario. Data extraction and web crawling is extremely important, and a quick look at stats will tell you why.
With extensive data analysis, one of the leading fashion brands experienced a whopping 33% increase in sales margins. As we all know, sales shoot up for valid reasons. Your customers’ purchase decision determines your product sales, and it’s right here that data extraction and web crawling make things easier.
Access to crucial and authentic data on customer preferences, purchase behavior, and other important factors will help you spot fashion trends. Such information and data will ensure countless benefits for fashion designers, analysts, and apparel manufacturers.
Let’s breeze through some of the benefits offered by web crawling and data extraction for fashion trends analysis.
How does it help in spotting fashion trends?
From leading and famous fashion labels to the new brands, everyone is leveraging data analytics to gain crystal clear insights into current trends. From individual updates on distinctive trends to collective fashion choices, web crawling can provide access to critical and crucial information. Here’s how it helps!
1. Individual product details: With some of the market biggies and leading companies embracing data extraction, they have the opportunity to gain targeted information on individual products. Quite naturally, that will help them develop ideas about consumer preferences and consumption patterns.
2. Predicting consumer choices: Data analytics is the key to predicting consumer choices and preferences. Other than leading fashion labels, eCommerce sites have the perfect opportunity to know customer demands. Web crawling will help them identify customers’ browsing patterns thus comprehending their choices.
3. Sentiment Analysis: When it boils down to understanding processes in the fashion industry, it’s imperative to understand buyer sentiments. Intuition and emotions regulate buyers’ decisions and choices. Data analytics will help you delve deep into the nuances of these aspects.
These are some of the basic aspects associated with data analytics in the fashion industry. With the ever-increasing popularity of data extraction and web crawling, industry insiders are opting for highly effective and dynamic analytics tool.
Benefits ensured by data analytics
Notable designers and creative fashion experts are the prime forces behind the ever-changing trends in the fashion landscape. However, it is successful data analytics that’s helping build familiarity with customers.
New tools are taking data analytics to a new level thus reshaping the future of this industry in a unique manner. Fashion industry leaders are using them big time, alongside leveraging the algorithms offered by these tools. Let’s turn to some facts that explain their roles.
Benefits of data analytics
When it comes to tracking the benefits of data analytics in the fashion industry, you simply can’t miss its role in tracing designer influence. Every fashion designer has a niche market along with considerable influences on their target audience. It’s their clothing patterns, designs, vision, or creativity that strikes a chord with their target audience.
Effective and dynamic data analytics tools help you trace and track these influences. That not only helps you identify current trends but also leaves an impact on future styles. Some of the other benefits include:
Better purchase decisions
Tracing the influence of a particular designer will help customers make effective purchase decisions. Customers belong to diverse income groups, which makes it impossible for all of them to afford high-street fashion labels.
Successful data analytics will help them gain access to correct information on latest trends. Quite naturally, they will get the opportunity to explore inexpensive options.
The union of analytics and intuition
Until now, fashion designers, fashion label owners, and dress manufacturers had to rely on their intuitive and cognitive capacities. They had no other option than to rely on their intuitions about consumer behavior.
However, current trends narrate a different story. Designers can now gain clear insights into past trends, which inevitably help them track consumer preferences. Data analytics will help you develop a complete picture of what your consumers like and what they don’t.
It goes without saying that product manufacturers will have the opportunity to deliver perfect products at the right place and time. There’s no denying the ever-increasing competition in the fashion industry. And perfect data analytics will help you stay ahead of the growth curve.
Competitive intelligence maximize profits
While serving clients’ needs is a highly crucial task and responsibility for designers, they will also think about profit maximization. If you are operating in the fashion industry for quite some time now, you will surely have an idea of market dynamics.
Competitive intelligence plays a highly significant role here. Product manufacturers will know the market prices thus helping them put the right price tags. That’s a huge benefit for businesses, as they won’t under-price their products.
These are some of the remarkable benefits ensured by data analytics. If you wish to take your company forward and help it stay ahead of the growth curve, web crawling will prove to be an effective weapon.
Data analytics: Fashion ‘Faux-pas’ or hit?
When it boils down to the fashion industry, differences are quite clear. Quite unlike the other sectors, the fashion industry undergoes massive transformations. Right from identifying customer preferences to developing products, intuition plays the decisive role. When data analytics steps in, it helps you in building a unique camaraderie with your intuitive capabilities.
Uninhibited access to crucial data and information will help you delve deep into the nuances of consumers’ choices. You will find answers to questions like:
- Why do consumers prefer a certain product to another?
- What are the thought processes that determine their choice of products?
- How do they shop online?
With the right and appropriate data sets before you, you can find targeted answers to these queries. This is where data analytics carves a distinctive niche for itself. Unlike sentiment, consumer emotions, or intuition analysis, data analytics and web crawling help you gain access to real-time feedback.
You get accurate and precise updates about what your target consumers like and hate. That’s a huge benefit while designing, manufacturing, and marketing clothing materials.
Ripples across the eCommerce industry
The eCommerce industry has embraced the power of data. From the seasoned players to new entrants, everyone is leveraging data to offer customized products and services. Let’s get into the shoes of a designer and try perceiving the situation.
As a fabric designer or eCommerce owner, you will want your customers to find the latest trends in your store. Web crawling will help you do just that. With the latest data extraction techniques and strategies, eCommerce owners will have the opportunity to create customized catalogs.
Information on consumer’s browsing behavior will help you offer the right products to them. Some of the leading eCommerce stores are warming up to this trend. Web crawling is helping them gain insights into customer choices and preferences, which is the key to offering targeted products.
Data analytics and extraction has been a prime force in the fashion industry. From market biggies such as Prada, United Colours of Benetton, Puma, and Diesel to promising startups like Stant, True&Co, and others, every small and big fashion label is including web crawling in their business strategies.