15 Apr 2024
WGSN has launched a new TikTok analytics tool that helps understand the difference between a trends and the consumer requirements generated by viral AI advertisements. This is a good move, as in a highly competitive beauty market, brands cannot make expensive New Product Development mistakes on the basis of the trend of the week. Thus, it is crucial to distinguish a trend from a fad. According to WGSN’s brand and content marketing manager, Mirela Dufrayer, there are many sustainability issues that emerge due to a ‘fast-beauty’ attitude to NPD and also creates additional inventory.
The new tool mixes data analytics with expert insights and also the signature STEPIC model which highlights only key trends. It analyzes the strength, stability, and health of a TikTok trend with reference to macro forecasts, which helps predict the life of the trend and thus, find out the upcoming trends too. This helps brands not to succumb to a short-term reactive stance.
