Can data predict fashion developments? – The Economist

IN THE movie “The Satan Wears Prada”, the character of Miranda Priestly, whose position is predicated on a feared Vogue editor, scolds her new assistant for not understanding fashion. Fashion, she tells her, is no matter a choose group of designers and critics says it's. What she doesn't say, nonetheless, is that their judgments are themselves typically influenced by one other group: fashion forecasters, who predict what will probably be “in”. May these seers of fashion in flip be undone by synthetic intelligence (AI)?

Fashion forecasting has at all times been a peculiar career. The enterprise got here into its personal in Paris within the 1960s when companies started releasing “development books”, collections of materials and design concepts. Retailers use these books for inspiration as they put collectively designs.

The greatest of those forecasting corporations is WGSN, with a market share of 50%. It employs 150 forecasters who scour the world’s catwalks, bars and golf equipment to identify the following massive factor. Their findings are then mixed with different data, from financial indicators to political sentiment. Petah Marian, a senior editor at WGSN, is assured that the methodology works. She says her colleagues typically exclaim “I forecast that!” when visiting clothes retailers.

Ms Marian’s confidence could seem stunning, given the dearth of clear correlations between fashion and macroeconomic data. Not a lot proof helps the speculation of George Taylor, an economist, that hemlines rise with shares, and Leonard Lauder’s suggestion that lipstick gross sales enhance throughout a downturn. Even the co-founding father of WGSN, Marc Price, who offered the agency to arrange a rival service, as soon as acknowledged: “No one can actually predict or forecast developments.” If forecasters can declare accuracy charges of as much as 80%, it's as a result of their predictions are sometimes self-fulfilling. Most main retailers purchase development books. For designers, they're a type of insurance coverage: so long as they're broadly used, the danger of being wildly out of step with the market is modest.

The enterprise of forecasting is menaced by data-driven evaluation, nonetheless. The clothes trade’s provide chain is turning into extra digital and extra versatile: Inditex and H&M, for instance, goal to take an thought and switch it right into a completed product prepared for mass manufacturing in two weeks. In response, forecasting companies are making use of data collated from retailers’ IT techniques and have added brief-time period predictions to their portfolio of companies. In 2013 WGSN launched INstock, a retail-analytics service, which makes use of previous gross sales figures to predict upcoming bestsellers. EDITED, a competing service, gives “stable metrics” in fashion, claiming to make use of machine studying, an AI method, with a purpose to predict brief-time period gross sales developments.

Such choices however, the wedding of AI and fashion continues to be in its infancy. A research in 2014 discovered that one of the best predictive fashions get it flawed practically half the time. However forecasters are prone to face rising competitors as know-how corporations enter the market. Google, a web based large, now has a “Trendspotting” division. It releases an everyday “Fashion Developments Report” primarily based on the agency’s huge trove of search data. To this point the outcomes are fundamental: in 2016 slim “mother denims” had been on the rise whereas baggier “boyfriend denims” had been on the way in which out. However Olivier Zimmer, the undertaking’s data scientist, says that the aim is to supply extra refined mixtures of search and different data.

The boring fringe of intelligence

Whether or not AI will ever actually exchange the woolly strategies of fashion forecasting stays to be seen. Some fear that utilizing AI might boring design. The enterprise has already develop into “pedantic” and a matter of percentages, says Michael Bennett, a former forecaster. However Julie King, a fashion knowledgeable on the College of Northampton, expects the ingenuity of thrilling couturiers to prevail over the homogeneity of data-driven algorithms. In that case, the Miranda Priestlys of the world received’t cease dictating what’s scorching and what’s not.

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Can data predict fashion developments? - The Economist