Technology helps with predating new trends, matching supply to demand and managing eCommerce’s more complex logistics. How do algorithms and humans predict fashion trends? Who can provide you with a secure and low-cost high risk merchant account?
Fashion Trend Forecasting
Think of trend forecasting as the act of predicting fashion trends for future collections. The trend started with fashion shows, social and political trends, and sales data. Increasingly, the variety of more advanced, innovative technologies got wider and brought their revolutionary impact on the way fashion trends are being forecast.
Today, the world of modern fashion uses sophisticated algorithms to forecast to this or that extent how customers are likely to make a purchase.
These well-designed algorithms predict trends by taking into account various data and customer behavior. That’s the reason why fashion can very often seem boring. After all, such prediction is based on the same intuition. The human factor, which plays an incredibly important and decisive role, is taken out of such method of prediction.
Fashion Industry & High Risk Merchant Account
COVID-19 has caused consumers to change their buying behavior and preferences. They are now more for less dressy attire and more often want purchase clothing over the internet than before. This means changes to dressier apparel and brick-and-mortar stores. Currently, the styles and colors that consumers are likely to choose in a post-pandemic world are still being analyzed and worked out.
COVID-19 has created lots of issues and headaches for merchants all around the globe. Many businesses have already closed their doors with no come-back plans for the future. Others are trying to start a business that can walk hand in hand with the current developing trends, and this is happening mainly in the online space. The fashion industry is no exception.
The need for reliable merchant services has grown. If you’re looking for a trustworthy merchant services provider that can help you with reliable and affordable payment processing services, including a high risk merchant account, turn to a reputable processor in your field. Make sure the payment processing company is focused on the latest payment technologies and guarantees fast and hassle-free access to the cheapest possible services in the industry.
Let’s get back to artificial intelligence, algorithms and fashion trend predictions. So, in April 2019, an artificial intelligence-based “designer,” DeepVogue, received the 1st place at the People’s Choice Award at China’s International Fashion Design Innovation competition. The system operation is based on deep learning to generate original designs taking into account images, themes, and keywords that human designers submit.
As you see, the gap between AI-developed designs and those created by humans is closing. Capabilities given by artificial intelligence and machine learning are much more sophisticated, efficient and faster than ever before. However, the human factor is of immense significance.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country offering the most secure and cheapest high risk merchant account in the field. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.