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BUSINESS Thursday 7 March 2019
A25

Internet, intuition can help businesses spot next big thing

By JOYCE M. ROSENBERG hen saw signs that lounge-
Associated Press wear sales were going to
NEW YORK (AP) — When increase. He forecast that
small business owners want sales of products people
to divine what consumer use when they're staying
spending trends will be close to home — such as
months from now, their board games and cook-
methods can be as sophis- ware — would also in-
ticated as internet analyt- crease, and they did.
ics or as basic as plain old "The art is being able to in-
intuition. terpret the trend that helps
At Moriarty's Gem Art, co- you begin to gain insight
owner Jeff Moriarty tracks into tomorrow," Cohen
searches on the jewelry says.
company's website and on Savvy owners will try to an-
Google Trends, a site that ticipate the end of a cur-
analyzes what people are rent trend. For example, if
looking for online. a color or style has been
"If we see a gemstone or a popular for a while, it may
style of ring or certain metal be about to wane as con-
type gaining popularity in a sumers want something
Google Trends report, we'll new and different.
create pieces and see how "You use the trends to try
they sell," says Moriarty, and pick the next style.
whose company is located In this Thursday, Feb. 28, 2019, photo a customer at Allegory Gallery, Denise Glover, right, hands That's where your intuition
in the Chicago suburb of her selections to William Jones, one of the co-owners of the jewelry and art store, as fellow owner comes in," says Joanna
Andrew Thornton, left, talks with instructor Laurel Ross, center right, and client Cindy Kuhns, center
Crown Point, Indiana. left, in the small town of Ligonier, Pa. Duda, owner of Pirillo Swim-
While current sales trends Associated Press wear, a Chicago-based
are important for small re- online retailer of women's
tailers and manufacturers, it top of trends by connect- clothes for celebrities, says media, and also see what swimsuits. Duda has seen
can be more critical to get ing with the customers of Bob Phibbs, owner of The they want. a lot of yellow clothes in re-
a sense of what the next their jewelry and bead Retail Doctor, a consult- "I do market research by cent seasons, so she's turn-
big seller will be, whether store. ing business. Phibbs noted taking social cues from ing to other hues for her up-
it's the hot toy during the "Social media helps inform that Walmart commercials what users post on Ins- coming collection.
holiday season, a fashion your understanding of con- during the telecast of last tagram — the products While some owners go to
silhouette or a smartphone. sumer psychology and al- month's Academy Awards they're buying, the buzz- trade shows or expos to
Owners can get clues from lows you to plan accord- featured well-known Holly- worthy books they're read- spot likely trends, or ask their
internet searches, and ingly and make changes," wood stylists. ing, and their lifestyles," manufacturer vendors,
deeper insights by looking says Thornton, co-owner "Follow them on Instagram says Mack, who lives in Is- Phibbs warns that may not
at the data creatively and of Allegory Gallery in Ligo- and see what they're dress- saquah, Washington. be the best approach. For
discerning how consumer nier, Pennsylvania. "It can ing people in," Phibbs says. Owners need to look cre- one thing, the merchan-
tastes are changing. Know- be useful to learn who your Taylor Mack stays on top of atively at sales or search dise at trade shows may
ing what's in the style and customer is and figure out book trends on Instagram, data, no matter where not be as new as it looks.
manufacturing pipeline how to better serve them." where book lovers connect they get it, to try to predict Phibbs says there's a lot of
can also help in anticipat- Apparel retailers should fol- at #bookstagram. Mack, what's next, says Marshal repetition as manufacturers
ing trends. low blogs and social me- who owns SilverFire Books, Cohen, a senior analyst have copied one another,
Social media is another re- dia accounts of people an online used book store, at NPD Group, a compa- and their merchandise has
source. Andrew Thornton in the fashion industry, in- says she's able to engage ny that tracks consumer likely been shown on the in-
and William Jones stay on cluding stylists who select with customers on social trends. Two years ago, Co- ternet already.q