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Livetrend: 10 ways that data-driven trend analysis makes your brand more responsible

ADVERTORIAL
By Sponsor

25 Aug 2021

Business

Rapidly changing styles and responsible fashion seem paradoxical as trends have become a synonym for overstock and pollution. However, fashion is uncompromisingly tied to the dynamics of modern lives. To sustainably react to inevitable market shifts, brands need to produce less but better. Find out how AI can shape a new era, where design, production and customers search for the same value: sustainability. Livetrend, an innovative, data-driven trend solution, is the leading tool to acknowledge market needs and increase sell-through, while responding to urgent sustainable obligations.

The co-dependence between brands, consumers, trends and sustainability

Traditional fashion-cycles are disrupted by fast fashion, social media’s micro-trends and the end of seasonality caused by globalization and climate change. Currently, brands are failing to meet those diverse consumer drivers, which results in overproduction and dead-stock that later culminates into landfills. This discrepancy between product and demand highlights the important correlation between trend-forecasts and brand’s decision-making. Knowing all the variables for a product’s success and timing allows us to assess the different collection phases and reduce waste more efficiently. However, conventional trend predictions consider an outpaced cycle of seasons and rely mostly on intuition. Today, those methods are too generalized and static to master the market while successfully pursuing sustainability. Brands can only revolutionize these damaging industry models by opting for more innovative approaches, connecting trends and technology to better guide their actions.

Here are 10 ways that data-driven trend analysis makes your brand more responsible:

  1. Reduce your environmental impact by implementing a digital research process.
  2. Produce less but better, relying on data over guessworking.
  3. Minimize waste of overstocks by producing the right product at the right time.
  4. Efficiently select the right micro-trends based on continuous data collection.
  5. Cut on waste during production through reliable data-driven product analysis.
  6. Calibrate your buying with trend risk evaluations generated by AI and tailored to your brand. 7. Master your price strategy to avoid excessive discounts by analyzing competitors' live-data. 8. Increase your product lifespan with trends that fit your consumer profiles and consider their long-term needs.
  7. Determine your sustainable strategy, empowered by a tangible and immediate vision of your competitive market.
  8. Integrate one of the latest technological innovations to shape sustainable practices and promote forward thinking.

It’s time for you to turn data-driven trends into responsible business decisions

Livetrend is an innovative trend platform that demonstrates how an AI-driven solution is the first step to sustainably respond to changing consumer demands. The digital trend solution grounds on a unique method that combines the latest technologies and industry knowledge. Livetrend collects thousands of images from e-commerce, Instagram and fashion shows daily. The solution provides reliable and interactive data, as well as customized real-time trend analysis, to empower all teams involved within the collection development.

With our unique sustainability benchmarking, information can be used to execute more responsible and profitable business decisions. Create a comparative vision of your own sustainable performance in correlation to your market, so you can benefit from concrete improvement tracks and identify growth drivers that help you to better position your sustainable offer.

Put reliable data over mere intuition and download our empowering report on SS21 Sustainability Trend Updates here. Visit our website and book a demo to get your assortment right for the next season. Make sure to follow us on LinkedIn and Instagram for the latest trends.

FashionTech
Innovation
Livetrend
SUSTAINABILITY