So, girls, I am a former fashion student and what scared me the most was -trends-. They change too fast and having to predict the trends before you design your collection is probably the hardest part because you can’t practice this skill you just have to know, and even when you think you know, it will change again thanks to our bestie, social media 🤳🏻 Trend forecasters also make bank because you’ve to pay mad money for the tea on what the girlies will be wearing next season 👀 But I didn’t just come here to chat shit about trend forecasting I’m here to fill you in on an emerging tech obviiii 😘 So, we have Heuritech to thank for this STUN-ning development, according to a survey published by GWI in 2022, the Gyals use social media most for ideas for things to do and buy ( 27.7% of you haven’t got a single original thought Awh ) 26.3% use social media for shopping purposes (Mélanie Mollard, 2022). 23.1% of the stunning Girlos in this poll wanted to see content from their favourite companies. (Mélanie Mollard , 2022) But at the top of the pyramid… going three for three….Maddie! oh wait no I meant keeping in touch with the besties ❤️ That’s so adorable it’s almost as if that’s what social media was made for! These figures are particularly valuable for businesses because they indicate actual consumer involvement that extends beyond sales. On social media, consumers look to their favourite businesses for not just new items, but also inspiration, entertainment, and essential values. Instagram, in particular, is an important route for younger customers, with women aged 16-34 and men aged 16-24 citing the platform as their fave social channel. If consumers can gather so much info from their favourite companies on Instagram, there really is no reason brands shouldn't do the same with their followers. (Mélanie Mollard, 2022). Heuritech will learn more about their audience's region, age, hobbies, style, and more by using data from social media. Heuritech go a step further by extracting patterns and products from the information that’s gathered on Instagram. This data gives major edge to brand portfolio creation — thanks to the popularity of social media. After that, the consumer panels are improved, and the photographs are evaluated to identify trends, styles, and products. Heuritech does this through the use of their computer vision technologies developed by the two co-founders. Moreover, to maintain precision sharper than Taylor Swift’s cat eye, the technology is always being improved...it’s giving “that girl” energy 👑 Every colour, shape, and texture is analysed using the computer vision technology, over 3000 features may be extracted from any given image. Heuritech uses their forecasting toolkit, which is simply a big daddy algorithm that is a collection of 7 distinct forecasting algorithms, to translate the data into relevant insights. With 90% accuracy, Heuritech’s machine learning forecasting system can anticipate how trends will react up to an entire year. (Mélanie Mollard, 2022). Social media is a disruptive force for fashion manufacturers in terms of customer awareness. Instagram is growing steadily and is soon expected to cross 2 billion active users by 2023. (Swadhin Agrawal, 2022). The sheer amount of users worldwide is proof enough of the wealth of data contained inside these platforms, which offers new, uncensored information every day. Girls I’m actually in awe of this emerging tech, we have our whole lives on social media it only makes sense that though it can perfectly assume what we will want to wear next! 💋 Anyway, I found it fascinating, Right signing off xoxo -Becky x References:
Agrawal, S. (2022) Instagram statistics 2023: How many people use Instagram?, DigitalGYD. Available at: https://www.digitalgyd.com/instagram-statistics/#instagram-demographics Mollard, M. (2022) Trend forecasting based on social media: How do we do it?, Heuritech. Available at: https://www.heuritech.com/articles/social-media-based-trend-forecasting/
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