WGSN and Trend Forecasting in Fashion and Beyond: Putting AI Technology to Work

WGSN is the world’s largest trend forecasting agency, supplying services to Fortune 500 fashion and lifestyle brands. Under the leadership of Carla Buzasi, who has been CEO for 11 years, WGSN has integrated AI technology into almost every aspect of its subscription-based service. The case examines the competitive advantages of WGSN, such as its development of both the STEPIC and TrendCurve AI frameworks, which can deliver trend forecasts with an extremely high level of accuracy. It has also developed a consulting arm called Mindset that provides tailor-made forecasting services to select clients. Yet, WGSN faces strong headwinds for its regular subscription-based platform, which is designed and priced for major brands. It will be more difficult for WGSN to offset the tsunami of new AI tools on the market that may commoditize trend forecasting like never before. WGSN, however, understands its grassroots clients. To cater to small independent designers in the fashion industry, WGSN has launched a stripped-down service called Start by WGSN.

The case is designed to encourage students to think about the role that trend forecasting agencies play. The trend forecasting market is undergoing enormous disruption with the arrival of AI technology, which may be better (or worse) at predicting trends in the industries that WGSN serves. Students who are interested in careers in sectors such as fashion and lifestyle will find the case a refreshing look at the changes taking place in trend forecasting.