To predict the future of RMG business in Bangladesh, trend forecasting analyzes both previous and current fashion trends as well as consumer behavior. Manufacturers and designers can use this data to learn important information about the types of designs, colors and materials that customers will want in the coming months. This information can be used to inform strategic manufacturing and design choices that can increase sales and profitability. The trend forecast outlook in RMG industry in Bangladesh is positive. Attractive clothing is in great demand due to the size and ever-increasing number of fashion-conscious consumers. Additionally, it is the second largest RMG industry worldwide and is still growing rapidly; consequently. To be competitive and meet client expectations, producers and designers must be able to accurately predict trends. Sustainability is an important issue for RMG sector in Bangladesh. To address this, trend forecasting identifies eco-friendly products, processes and designs that may become popular in the near future. Using sustainable techniques minimizes both their social duties and environmental damage. Excellent potential exists in the RMG sector of Bangladesh for trend forecasting. It can help manufacturers and designers stay competitive, meet their consumers' expectations, and move toward more eco-friendly practices by providing analytical insights into purchasing patterns and recent trends.

Keywords: RMG trend, Eco-friendly, trend forecasting, global business

The potential of trend forecasting in the ready-made garment (RMG) sector of Bangladesh will be examined in this paper. We will assess the current situation and consider potential applications for trend forecasting as a growth teamster. The objective is to learn how much it can increase the productivity and earnings of the RMG industry. Bangladesh's RMG sector relies heavily on trend forecasting.¹ An important instrument has helped in the expansion and development of the sector. It enables businesses to create clothing and items that meet customer needs and provides insight into emerging fashion trends. As a result, companies are better equipped to quickly adapt to changing consumer tastes and preferences, helping them remain competitive in the marketplace.² As a result, trend forecasting is crucial to maintaining the industry's long-term prosperity.

Forecasting and its Scenarios

The Bangladeshi Readymade Garments (RMG) business greatly benefits from trend forecasting. Anticipating client needs and making necessary preparations is helpful. Apparel manufacturers can adjust their production and inventory levels to meet anticipated consumer demand by predicting what consumers will buy in the near future.³ Trends can also provide forecasting information when developing new product lines or marketing plans. Forecasting improves a company's chances of success in the Bangladesh RMG market and enables it to stay one step ahead of the competition and take advantage of new trends. It is very important to forecast trends and ensure its future in Bangladesh's ready-made garment industry. It is important to look at the opportunities—or lack thereof—presented by this forecasting technique in the RMG sector.⁴ The possibility of trend forecasting in the RMG sector of Bangladesh is explored. In order to more accurately assess whether it is suitable for this industry, we need to consider its potential and expected effects. There is a gap in the literature when it comes to trend forecasting and its potential in Bangladesh's readymade garment (RMG) business. This study attempts to identify this shortcoming and investigate the application of trend forecasting in this sector.

Trend forecasting can be an effective tool in identifying and solving problems in the Bangladesh readymade garments (RMG) sector. Identifying patterns with precision can help you predict problems and come up with active solutions. Additionally, it has the potential to shed light on the future prospects of the industry.

Objectives of the study

The objectives of this study is to explore trend forecasting and examine its potential in the apparel sector of Bangladesh. This article will evaluate existing trend-forecasting methods and assess their potential implications for the apparel industry. The aim is to present a thorough understanding of trend forecasting and how it can help businesses stay ahead of fashion. Discussions will also include suggestions for future practices and issues to consider for sustainable expansion.

Consequences and advantages of the study

The Readymade Garments (RMG) business in Bangladesh greatly values and benefits from trend forecasting. This gives the opportunity to predict the next fashion trend, helping businesses make better choices. Additionally, it helps RMG companies to effectively target their clients and build collections. They may be able to increase their profits and maintain their competitiveness in the global market with this forecasting system.

This study explores the trend forecasting practices employed by the Ready Made Garments (RMG) sector of Bangladesh. It investigates into the techniques and approaches used to anticipate fashion trends in this industry. Additionally, an analysis of the impact of these practices on production processes is also undertaken.

Literature review

The trend forecasting potential of Bangladesh Readymade Garment (RMG) sector has been studied in the past. This research demonstrates how important it is to recognize fashion trends in order to create and maintain competitive strategies.⁵ It also explains how RMGs can incorporate the trend into their products and looks at the possible repercussions of doing so. One of the major sectors and a major economic contributor in Bangladesh is the ready-made garment (RMG) sector. To understand customer preferences and develop products that are in demand, trend forecasting is an important component of RMG business.¹ Consumers are now much more aware of the environmental and social consequences of their clothing choices, and in recent years, there has been a clear trend towards sustainability and ethical fashion.⁶ Due to the emergence of environmentally friendly and socially conscious manufacturing strategies, trend forecasting has become more important to identify and capitalize on such trends.⁷ Although this industry is still relatively new in Bangladesh, many manufacturers and retailers are beginning to see its potential. Groups like the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) and the Bangladesh Apparel Summit offer training and education for those looking to cash in on the trend. Despite these advances, several challenges remain, including lack of information and resources. Although this progress, many challenges remain to be overcome, including a lack of data and resources for accurate forecasting, limited access to global markets, and cost pressures that could risk policies supporting sustainable practices. The trend forecast potential of Bangladesh's RMG sector is positive; much work remains before it can fully overcome obstacles and reach its full potential. However, the RMG sector in Bangladesh has a lot of room for innovation and expansion through forecasting trends Manufacturers and traders can learn important information about customer preferences and use the latest technology and data analytics to create products that meet changing market needs. Therefore, garment workers can expect higher earnings and better working conditions.

Previous research on trend forecasting and its potential use in Bangladesh's readymade garment (RMG) sector has margins. This article will examine the potential application of this discipline to the Bangladeshi RMG sector as well as any existing limitations. Although some studies are available on trend forecasting and it is potential in the RMG sector in Bangladesh, this work has many limitations. First, most studies on this topic are relatively recent and of a narrow scale, focusing more on case studies or surveys of specific firms than on thorough examinations of the sector as a whole. It is very challenging to generalize about the quality of trend forecasts and future growth potential in the Bangladesh RMG industry.

Additionally, there is a lack of empirical data demonstrating the value of trend forecasting techniques in the Bangladesh RMG market. It is uncertain what impact these strategies have had on the industry as a whole, even if individual businesses can succeed in using these measures to branch innovation and growth. More research is needed on the social and environmental impacts of trend forecasting because there are concerns that it could encourage risky production techniques, increase waste, and provide new ways of exploiting people. Further research on the use of technology in forecasting trends in Bangladesh's RMG business will provide insight into how to take such tools forward. Promote studies are needed to better understand the effectiveness of technology in this sector and its consequences for the industry. In this article, the feasibility of trend forecasting in Bangladesh's readymade garment (RMG) sector will be examined. It will examine the potential benefits for the industry of this approach and assess any potential disadvantages. An intriguing area of research is investigating trend forecasting and its potential implications for the RMG sector in Bangladesh. Understanding how this can affect the country's apparel industry can be useful in identifying potential business opportunities and expansion plans.

Theories of Trend Forecasting

Trend forecasting is an essential tool for organizations to stay competitive and stay ahead of the curve in their respective sectors.⁸ Not only does this provide an advantage over competitors, but it also makes it easier for businesses to succeed in the end. If done correctly, trend forecasting can be of great help in predicting future trends in the RMG sector of Bangladesh. With a greater understanding of what customers buy, companies can tailor products and services to their needs, thus increasing revenue. To explore the possibilities of trend forecasting in the RMG sector in Bangladesh, various theoretical frameworks can be applied. These include the resource-based view, which examines the resources and capabilities needed to successfully implement trend forecasting, the institutional theory, which looks at the institutional pressures that may lead businesses to adopt trend forecasting, and the social exchange theory, which considers resources in social interactions. In addition, exchange of benefits. Logical cognitive can be used to explore the feasibility of trend forecasting in Bangladesh RMG business. It is possible to see the benefits of this strategy and measure how effective it can be. As the western market, which Bangladesh's RMG industry mostly exports to, is influenced by rapidly changing consumer tastes and fashion trends, it is crucial for businesses operating in the region to engage in trend forecasting. They will be better equipped to meet client expectations thereby ensuring their long-term competitiveness. Companies must establish product design and innovation strategies to stay competitive in the Bangladesh RMG market in the face of intense competition and changing consumer preferences.

These businesses can gain the knowledge they need by forecasting client demand and forecasting trends to stay competitive. Developing a distinctive character will enable them to charge higher prices. The RMG sector in Bangladesh is a highly competitive market where competition is mostly driven by price. Companies must come up with strategies to differentiate themselves from their competitors, including using trend forecasting and coming up with new product designs, if they want to buck the trend and achieve greater profit margins. In the end, this may result in more success. Successful implementation of trend forecasting within the Bangladesh RMG industry requires removing silos between design, production and marketing teams. This can result in many benefits for businesses, including improved collaboration and innovation, creating opportunities for further growth.

Findings

Investigated on trend forecasting and its potential impact on ready-to-wear sector in Bangladesh. The results show a positive future, pointing towards growth and progress. This industry is expected to grow continuously and play an important role in the country's economy. Depending on the topics and areas of investigation previously described, the research may produce different results. The impact of the discovery could be massive. Now, the development trend of the RMG sector in Bangladesh depends on the forecast. For businesses to have a competitive edge in the market there is a need to stay one-step ahead of the competition and anticipate customer preferences. To aid them in this endeavor, fashion corporations have turned to modern trend forecasters. Although both producers and traders in Bangladesh understand trend forecasting, the adoption of the technique varies. Implementation challenges are brought about by a lack of resources or expertise, with a focus on mass production at any cost rather than originality. Increasing competition and changing customer expectations drive adoption in the RMG industry of Bangladesh, trend forecasting methods must be extensively evaluated It is important to consider how well these strategies can predict future trends and customer behavior. We better understand how Bangladeshi garment companies can use these strategies for business planning and demand forecasting. Businesses that anticipate trends and use this knowledge to develop and promote products have a competitive advantage. For trend forecasting to be successful, having good research skills, access to market data and a flexible supply chain is essential. Competitiveness and growth of the ready-to-wear industry in Bangladesh has increased through trend forecasting.

Examining the impact of long-term trend forecasting on Bangladesh's readymade garment (RMG) industry, it is clear that there are both social and environmental impacts. Impacts can be seen in terms of sustainability and employment. It is clear that in this region of the world, economic progress directly affects both the environment and the population. Consequently, it is crucial to understand and track these changes to ensure that the right steps are taken to minimize the harmful effects Bangladesh's ready-made garments (RMG) industry is subject to trend forecasting effects, which can be both beneficial and detrimental. To create demand for sustainable and ethical fashion, trend forecasting can be a fantastic asset.

The consequences of trend forecasting include excessive output and a waste of life. As globalization progresses, more and more companies are observing this sector and introducing their own fashion trends. To predict future fashion trends and profit from them, technology is essential. By keeping them on the cutting edge, this gives them a competitive advantage. Technology and data analytics have the potential to transform Bangladesh's ready-to-wear industry. This can completely change the market. Putting technology-driven trend forecasting into practice has its own challenges, mostly related to cost and access to technology as well as lack of appropriate expertise. Technologies provide an opportunity to establish transparency and traceability in Bangladesh's RMG sector. They have the power to ensure compliance with relevant rules and laws. The development of readymade garments (RMG) industry in Bangladesh is heavily influenced by new trends. Digitization, automation, sustainability and greater emphasis on employee welfare affect the sector in various ways. These elements will actively contribute to the continued evolution of the sector in the future. The growth of Bangladesh's RMG business is largely driven by consumer interest in ethical and sustainable fashion. The global growth of both fast fashion and e-commerce has had a significant impact on Bangladesh's RMG business. To maintain its position as a leader as trends change, Bangladesh's RMG sector must integrate sustainability, ethics, technology and customer-centric practices. To stay current with changing market needs, investment in these components is essential. These findings are based on prospective studies and need to be validated by in-depth primary research

Unintentional influences

In this study, past trend forecasting research was contrasted with its use in RMG industry of Bangladesh. The objective was to identify any potential consequences for this industry. Previous studies have explored the potential of trend forecasting in Bangladesh's readymade garment (RMG) sector. In this article, the current situation and its prospects for the future will be examined. It will review the progress achieved in this field and how they affect the RMG business in Bangladesh. As a result, we want to know more about the trend forecasting possibilities available to the industry The Bangladesh RMG sector can benefit from trend forecasting to remain competitive in the rapidly evolving international fashion market

This enables producers and merchants to produce items that are in high demand, thus increasing income. However, issues including a lack of resources or experience, as well as a focus on low-cost production rather than innovation, can make trend forecasting difficult to implement. Therefore, businesses that invest in trend forecasting can have an advantage over their competitors, enabling them to keep pace with changing client needs. It is also important to consider how trend forecasting affects society and the environment; while this may increase demand for ethical and environmentally conscious clothing, poorly managed trends can lead to overproduction and waste. Consequently, businesses that use trend forecasting should consider how their operations would affect society and the environment and work to produce products responsibly. Data analytics technology provides a huge opportunity to change trend forecasting in Bangladesh's RMG sector by enabling companies to efficiently and quickly compile large amounts of market data. However, to benefit from these tools, technology-driven trend forecasting may require significant financial outlay as well as the development of new skill sets. Ultimately, important trends include increased supply chain transparency, consumer passion for sustainable and ethical clothing, and fast fashion. Numerous important developments such as consumer demand for ethical and sustainable clothing, the global dominance of fast fashion and e-commerce, and the growing need for transparent and traceable supply chains are influencing the future of Bangladesh's RMG business.

For businesses engaged in Bangladesh RMG sector, trend forecasting can be a powerful tool. Companies can gain an advantage over competitors, increase sales and profits, and stand out from the crowd by spotting new trends and creating items that customers want to buy. However, implementing the trend forecast is difficult for the RMG sector in Bangladesh. In an industry that is primarily focused on low-cost production and intense price competition, it can be challenging businesses to invest in new technologies and strategies, such as trend forecasting. As a result, there is increasing pressure on the sector to adopt ethical and environment-friendly production methods. There is huge potential for businesses who can overcome these barriers and spend money on trend forecasting. Businesses that adapt quickly to changing market conditions and make data-driven choices can increase sales and profitability. Companies in the RMG sector in Bangladesh need to be open to innovation and adaptation if they want to thrive in the global market, and trend forecasting is a tool that helps achieve this. By staying one-step ahead of the competition by keeping pace with rapidly changing consumer trends and preferences, companies can stay competitive and thrive in a rapidly evolving global market.

Future work

Further research is needed for trend forecasting possibilities in Bangladesh's ready-made garments (RMG) sector. By knowing this, organizations can identify relevant fashion trends and create plans further investigation is needed to understand how trend forecasting and other innovative strategies affect small and medium-sized enterprises (SMEs) in Bangladesh's RMG sector. It is important to consider how trend forecasting affects ethics and sustainability. Collaboration between businesses can encourage trend forecasting and reveal the potential benefits of technological improvements. Digitization and the use of information exchange can help businesses become more competitive in the global market.

Recommendation

International demand for Bangladesh's RMG industry is expanding rapidly, causing production costs to rise and profit margins to shrink. To solve this problem and keep normal margins, market research should be done. Automation and a single window system can help eliminate the sector's procedural challenges in obtaining import and export licenses and certifications. Reduction in lead-time is a major issue that can be addressed through improved infrastructure and digitized port facilities. Eco-friendly technology can be a smart choice to follow the latest trends in textiles around the world. Government agencies and the financial industry should also provide loans or incentives to promote energy-efficient, waste treatment, and SDG-relevant strategies, especially for small businesses. Bangladesh's export earnings are still dominated by woven garments, but woven products have grown by 40% and should continue to do so with the right support. Although the number of woven exports has increased, prices are still low compared to woven products; Product diversification can help raise prices in the international market, but also requires government support, such as application of source taxes instead of FOB prices and price reductions. As the knitwear, industry requires more investment than the knitwear industry in terms of underdeveloped connectivity.

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Author declares that there is no conflict of interest.

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