Colour exists all around us. We are attuned to associating each colour in the spectrum to a specific memory or a feeling. It evokes memories, feelings of nostalgia or even hunger. The concept of colour that is hardwired in our brain is often overlooked. It might be overlooked by us but not by major corporations. Organizations spend substantial amount of time, effort and money funding research that allows them to tap into our minds for using colours to evoke a specific feeling or emotion. This study and research of colour and colour forecasting requires extensive understanding of human behaviour.

How does colour impact businesses 

Is it possible to predict the popularity of colour? It is not exactly a logistics of demand and supply. The colour forecasting is the tool that helps you in predicting the colour that will hold the attention of consumers in a specific industry for the longest time or be the popular choice. 

Fashion industry is heavily reliant on colour forecasting for the colour element plays a vital role in functioning of the industry. Not just fashion industry, all business depends on use of the right colours and colour forecasting to some extent, even if the specific business doesn’t directly depend on use of colours: From auto manufacturers to packaging of consumer goods, home décor, restaurants, hotels, advertising and so on.

Colour forecasting

The tools used for predicting market patterns and colour forecasting is extensively undertaken by qualified professionals to predict the usage, significance and popularity of specific colours over a period of time. This is process is colour forecasting.

From major corporations to small scale businesses use the concept of colour forecasting to design smarter packaging, signage, product design and more. Informed colour choices will communicate and foster better understanding of a specific product. Colour forecasting is a tool that enables you to make informed choices about a specific colour. For example: food apps and restaurants use bright red because it kindles hunger.

Colour forecasting helps identify such patterns and meanings that we generally tend to associate with colours. Colours in a branding is powerful enough to develop familiarity and foster goodwill without having to communicate with extensive words, as use of colours is more effective. Although most people don’t give colour a second thought, it can make or break a product, no matter the niche or industry. Here are 2 significant ways colour forecasting could help with business.

Benefits both businesses and customers

Colour forecasting significantly impacts product design and development. The colour concept is a quick changing fad that is heavily influenced by pop culture and several other elements. Colour forecasting can be an intimidating and overwhelming task if not done properly with expert guidance. Colour forecasting can help businesses and organisations can plan ahead and not play catch up with instant fads in the market. Using the right colour to communicate with customers improves market penetration, goodwill and revenue generation.

Colour forecasting is generally made several years in advance, this enables businesses to tap into their specific target market, it accelerates and enhances your chances of reaching the right customer at the right time. This also helps the customer be aware of the features and expectations when going in for the buy.

Knowing the newest fad

Major corporations and businesses offer more than just a single product. There is a whole slew of product lines and variations with each of their products offered in the market. Colour forecasting helps empower businesses with colour directions as a tool, which is used for designing complementary products and services. This enables the customer to identify a specific product in a product line without any hassle.

To tap into the psyche of a customer, it is important to understand to enable and learn as much as of colour forecasting. To predict such colour that will be in fad, you need to understand all the influential elements of each trade. For example: there are several online forums and daily news bytes that frequently talk about space exploration and mars missions. Space and mars are usually associated with the dark part of the colour palette. So, if you look up popular colour palettes for the year 2022. Let’s hazard a guess of the popular colour palette for the year and it is called “Fiery Dusk,” which was designed from the worldwide obsession with space exploration and Mars missions.

Businesses like Samsung would use the colours in this palette to design phones, washers, refrigerators, and even smart home devices. Their products would appeal more to customers by evoking a mood of excitement, adventure, and innovation thanks to the colour palette. Going on the previous example, the Fiery Dusk palette gives Samsung a competitive edge over companies that don’t use colour forecasting.