WGSN, a global trend forecasting company, will launch the “WGSN Fashion Buying” platform on August 8, a “data-driven” buying platform designed to help understand product direction, key trends, and investment in specific styles. The company, with offices in London, New York, Hong Kong, and São Paulo, has provided B2B members with unique global consumer trend analysis and design trend forecasts in fashion, beauty, interiors, food & drink, and consumer tech. With the introduction of AI, WGSN aims to achieve even more accurate trend forecasting.
“WGSN Fashion Buying” covers multiple fashion categories, combining WGSN’s trend forecasting with its proprietary predictive analysis “TrendCurve AI” to deliver “unprecedented accuracy” in seasonal buying decisions.
This platform integrates the pre-planning, development, and in-season review phases, providing team leaders with strategic content through “Director’s Intelligence,” a part of WGSN Fashion Buying. Additionally, new forecasts such as Trend Narratives, TrendCurve AI Colour, and TikTok Trading will be added to the platform to enhance WGSN’s fashion design reports.
Monisha Klar, WGSN’s Fashion Director, stated, “Buyers have been so reliant on their own internal data. But since you don’t have data on items you haven’t sold, there’s also a big element of buyers making gut-instinct decisions, that may or may not pan out.”
Klar added, “I think WGSN is uniquely positioned to provide buyers with the confidence and validation they need to back trends from the quantitative side, while also giving them the creative and commercial execution they’ll need all the way through the product-to-market lifecycle.”
With the introduction of WGSN’s new platform, fashion industry buyers will be able to make more accurate data-driven decisions, gaining strong support for success in a highly competitive market. This advanced approach and the integration of AI technology are set to bring a new standard to the fashion industry, potentially transforming the future buying process fundamentally.