Decide what goods a retail store will sell, and how they will be marketed.
Trend Managers monitor trends for companies. There are two types of trends — and, as a result, two types of Trend Managers.
The first type of trend is the culture kind. Otherwise known as a fad, it’s popular one minute and passé the next. If you’re a Trend Manager who deals with that kind of trend, you study consumer behaviors in order to predict what’s going to be hot before it’s actually hot.
Whether it’s a fashion trend (for example, a new color), a food trend (a fresh ingredient), a verbal trend (a new slang word), or an entertainment trend (a new favorite Actor), you determine what the next big thing is, then advise your colleagues — Product Managers, Engineers, Designers, and others — on the development of related products and services. In other words, you help companies spot trends then become “trendy” so they can profit from them.
The second type of trend is the market kind. If you’re a Trend Manager who deals with that kind of trend, you ask and answer the question, “Over time, where are things going?”
Whether it’s a financial trend (for example, the rise or fall of the stock market), a real estate trend (the increase or decrease of existing home sales), or a business trend (the expansion or contraction of the labor market), you predict what’s going to happen, then advise your colleagues — Actuaries, Accountants, Attorneys, and others — on strategies that will help them maximize opportunities and minimize risks. In other words, you help companies forecast the future so they can prepare for it.