The Trend Performance module not only allows you to identify trending products but also helps brands to spot demand and further validate trend movement. In this article, you will learn how to identify and validate trends using this module.
Step 1: Identify trending category
The Overview tab provides a high-level analysis of all categories in the selected market. You can identify uptrending and downtrending categories, colours, patterns and materials by the colour of the line graphs (ie. green represents an uptrend while red represents a downtrend). The trend score measures the popularity of the trend. It is indicated next to the graph by a number – the more popular the trend, the higher the score.
In this example, we are going to analyse the trend movement for intimates by first clicking on the product visual. A trend chart will slide from the right to show you a more detailed analysis of the trend.
From the trend chart, you can see that the solid line (ie. green line) is consistently above the dotted line, which represents the overall benchmark for all categories. The positive graph shows intimates has driven consistent demand in the last 3 months as it continues to trend above the dotted line.
Step 2: Validate the trending category against sell-out at full price
Once you have identified a trending category, you can further research on the trending designs.
Filter by “Full Price” and “Out of Stock” to analyse the popularity of the trend against full-priced products that have gone out of stock within the same date range to validate demand. In this example, you can see that intimates are among the uptrending categories.
Step 3: Shortlist trending designs and retailers carrying the products
Once you have identified a category with strong demand based on the sell-out at full price, you can dive further to spot trending designs or silhouettes that are available on the market.
Step 4: Validate the trending category by understanding sell-out performance
Brands should validate the performance of trends before producing the final product. Using the Competitor Benchmarking module, go to Trade Analysis under the Retailer Analysis tab and select brands/retailers that you have identified in the previous step. In this example, we have selected Selfridges & Co, Simply Be, Fashion Nova & Asos.
Scroll down and review the sell-out contribution for the ‘Intimates’ category in the Trade Analysis card to validate if sell-out rate is driven by full-priced or discounted products. The chart shows a majority of the sell-out performance is driven by full-price products, further suggesting the category’s popularity.
With data-backed insights, brands are empowered to confidently decide on the right assortment to produce. By validating the category beforehand, retailers/brands can minimise the risks of producing short-lived fads and maximise profitability.
Hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.