Essay Miss Selfridge Fashion Forecasting Report

2890 Words May 9th, 2012 12 Pages
Assignment 2

The Summery of the Group Work
A fashion forecasting report was conducted for Miss Selfridge Company to enable the development of new fashion ideas that would appeal to its customers. After getting familiar with the classic Miss Selfridge style and its history the research process had begun.
One of the most useful resources for ideas were the Fashion weeks, showing collections of famous and up and coming designers in New York, London, Paris and Milan. The most coveted pieces, cuts, fabrics and colours were noted and further observed on reputable websites / such as Vogue.com, Style.com and Wsgn.com. /and in magazines / Vogue, InStyle, Glamour, Bazaar etc. /. The blogs of well-known fashion bloggers were also visited where
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/Brassington, 2006, p.350/
The lifecycle of a product changes according to the changes in customer behaviour so predicting and anticipating the target audience`s reaction is crucial. The concept of the diffusion of innovation (Rogers, 1962) analyse the speed at which a new innovation – product – sweeps across the market as a whole. It is also very effective in the classification of customers depending on their speed of adoption.
For Miss Selfridge the Innovators are the “shopaholic fashion followers”, who devote time and money to achieve the “just off the catwalk” look when the new season starts. Innovators are not the usual high street shoppers; they belong to a high social class with financial background to afford often couture, designer items. They are going help to get the product off the ground and in the process of gaining acceptance. They are the first “adverts” for the spring summer styles of 2012.
Miss Selfridge`s Early adopters are the mid-20s high shoppers who are enthusiastic about fashion and while buying designer items they also visit high street stores. All the 3 trend developed will appeal to these customers who will have a major role in maximizing profit. They are also the ones who spread word-of-mouth recommendations about value, quality and benefits and together with the innovators they are the best advertisement for the company.
The developed trends will thrive

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