Trends from two years out to the present day can now be tracked in one place
NEW YORK, March 21, 2016 /PRNewswire/ -- WGSN, the global trend authority, has released a new digital platform that brings together all of its market-leading products into one place, allowing users to seamlessly navigate between vital information on future consumer trends (up to two years ahead of the market) and up-to-the minute data on what is selling right now.
The new platform houses WGSN Fashion, its flagship trend service for the fashion market, WGSN Lifestyle & Interiors, the only dedicated trend service serving the lifestyle and interiors sector, WGSN Instock, a newly enhanced version of its retail analytics website, WGSN Styletrial, a crowd-sourced trend validation product, and WGSN Mindset, its strategic advisory service. All of these products can now be accessed via a single sign-on, enabling users to navigate quickly and easily between them.
With the compression of seasons and the evolution of the "direct to consumer" movement, WGSN's move to unite its services on a single platform will help its members who need to react fast to what's happening now, while also anticipating what is next.
Within the new single platform, WGSN has also unveiled the latest version of its retail analytics tool, WGSN Instock. Key features of the new site include enhanced personalisation that allows users to track specific retailers, countries, brands and product categories from WGSN's warehouse of over 100 million product SKUs (updated daily). It will also allow users to track specific metrics to understand how different styles of product, colours, prints & graphics, and price points are moving at retail. In an instant, users can now look at trends in Key Performance Indicators such as mark-up %, mark-down %, and frequency of restocks.
"Big data is changing the fashion industry. Decisions that once relied on intuition alone can now be backed by shrewd applications of targeted data," says Sansan Chen, EVP of Product at WGSN.
"As fashion cycles have significantly sped up – evidenced by recent announcements of designers aligning runway collections with retail offerings – and as markdowns continue eating away at already low margins, having instant access to valuable, accurate data from a single source becomes critical for both retailers and suppliers to drive their business growth. With this newly launched version of WGSN Instock, client businesses will have a brilliant tool for making pricing and range decisions with more speed and accuracy," she adds.
Jose Papa, CEO of WGSN explains: "In the new market, retailers need to respond immediately to changes in consumer preference. The new WGSN Instock doesn't just give our clients data, it enables them to understand the data, and act on what the market is telling them."
WGSN is the world's leading trend authority, serving fashion and creative-led companies in over 86 countries. Our services cover fashion and lifestyle forecasting, data analytics, crowd-sourced design validation and expert consulting. We help drive our customers to greater success. Together, we Create Tomorrow. WGSN is part of WGSN Limited, comprising of market-leading products including WGSN Instock, WGSN Lifestyle & Interiors, WGSN Styletrial and WGSN Mindset our bespoke consultancy services.
WGSN is owned by Ascential plc, a leading international media company that informs and connects business professionals in 150 countries through market-leading Exhibitions and Festivals, and Information Services.
Ascential powers the prestigious Cannes Lions festival for the branded communications industry, the world's premier payments and financial services congress Money 20/20, and the global fashion trend forecasting service WGSN. 23 of Ascential's 32 product lines are marketing leading and occupy number one positions.
Ascential exists to provide our customers with world class content and connections empowering their businesses to be the best informed and best connected. Our products enable focus, growth and value.
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