Question:

After completion of his training of cutting, tailoring and embroidery from a skill development institute, Sujit wanted to start his own business. He discussed this idea with his mother who advised him to identify the new trends in this area. She also advised him to take the help of professional trend spotters for this. When Sujit contacted some of the best professional trend spotters, he found that their fee was too high. So he decided to do this work himself, started reading the leading publications and visited websites related to the type of business he wanted to start. This way he was able to spot related trends. Identify and explain the method used by Sujit to spot the trends. Also list two other ways in which trends can be spotted.

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Reading industry publications and websites is a smart and affordable way to spot trends — ideal for startups!
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Solution and Explanation

Method used by Sujit: The method used by Sujit to spot the trends is called “Read Trend Publications” — a part of self-trend spotting methods. Sujit chose to explore new fashion and tailoring trends by reading industry-related magazines, fashion publications, and browsing relevant websites. This is a cost-effective and independent way to keep oneself informed about the latest developments in the market.
This method helps entrepreneurs gain first-hand knowledge of what’s trending.
It develops a habit of continuous learning and keeps the entrepreneur up to date with industry changes.
Sujit’s approach reflects self-initiative and adaptability — two key entrepreneurial traits. Two other ways in which trends can be spotted:

Hire Professional Trend Spotters: These are experts or agencies that specialize in identifying and analyzing market trends. They use data analytics, customer behavior, and forecasting tools to predict future trends and can provide professional reports and suggestions.
Observe Competitors and Customers: By keeping a close watch on what competitors are offering and what customers are demanding or buying, entrepreneurs can identify what is gaining popularity. Feedback from customers can also give clues to upcoming trends.
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