Staying on top of the latest trends is an integral part of the design and assortment planning process. The Competitor Benchmarking module allows you to identify the performance of particular trending details that you spot in the market.
In this article, discover how to identify trending design details in a specific market.
Step 1: Conduct external research on latest trends
Refer external resources such as fashion magazines, trend analytics tools or runways to spot the latest trend developments.
Step 2: Validate potential trending design details by leading brands
ii) Insert relevant keywords in the search filter (ie. ‘pleats’ to identify all products tagged under pleats).
iii) Refer to the retailer’s sell-out to study its performance at full-price or discount and gauge consumer demand.
iv) Dive into product level and sort by ‘Most Replenished’ to view highly demanded products.
Products with a high sell-out rate at full price indicate a greater demand for this trend, therefore validate its opportunity in the market.
Conversely, products with high sell-out rates at a discount may still indicate demand, however, pose a risk as it could be driven by low pricing. We recommend expressing caution when incorporating these trends with minimal investment, ie. 5% of the total range.
We 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.