"Twice a year Pantone hosts, in a European capital, a secret meeting of representatives from various nations' color standards groups. After two days of presentations and debate, they choose a color for the following year."
"OVER 20 YEARS OF INFLUENCING PRODUCT DEVELOPMENT AND PURCHASING DECISIONS"
https://www.pantone.com/articles/color-of-the-year/color-of-...
http://cdn.osxdaily.com/wp-content/uploads/2019/06/macos-cat...
I was kind of wondering why that was suddenly a thing. I don't know if that was somehow directly or indirectly motivated by pantone, but it certainly has been a headscratcher for me for some time and this could answer why that is happening.
There are some downstream effects, but they are overwhelmingly not relevant to fashion design, no matter what their marketing material claims.
Pantone sells color chips. They are not designers, and they do not make or sell fashion.
The color of the year is just a marketing stunt which the media laps up, but the fashion industry completely ignores.
I did repaint my bedroom with an accent wall that's just about the exact shade of blue that is their 2020 color of the year. Not because Pantone told me to, but maybe because their selection of that color led it to be more prominently placed/advertised when I started picking new paint colors.
Tough to say, and your question is too oversimplistic to make sense as part of the discussion.
In short: the way trends work is they get popular and then all the people already doing that thing get popular too.
There is during that time people who jump on the bandwagon. Once the popularity dies off, lots of people keep doing that thing, it just doesn't get the notoriety it did before: it returns to its niche.
And, of course, the more the industry is consolidated the more “directed” it will seem.
"Color Marketing Group’s North America 2022 Key Color, New Day, is the color response for a time still in transition. New Day suggests confidence and familiarity to greet 2022 with a sense of comfort.
"A light, fresh blue with red influences, New Day is an inspiring color designed to convey the classic connotation of hope and new beginnings. …
"As calming as New Day may appear, its red undertone is a stimulation aspect of the color, making it ideal for practically any product application. From commercial to residential spaces, consumer goods to fashion, and graphic design, New Day is a color that stands for truth and hope."
Fashion is an industry where hundreds of individual designers, some with the backing of megacorps and some without, try to meet popular interest (or to lead it), with production times measured in weeks to months, and with seasonal variation.
There is no "fashion cabal" where designers get together for drinks and to anoint "cerulean blue" as the color of 2023 and then pull their customers by the nose ring into purchasing.
(Yes, there is a media-favorite color survey that gets printed every year, and there are some downstream effects of that).
The music industry works similarly. Bands toil for years (or months), doing their thing, and A&R reps from major labels try to predict what they can promote that will be popular enough this year (based on the choices of other promoters in the industry), or next year, to sell in the near term, and yet differentiated enough to have lasting value.
The snack food industry works similarly.
The software industry works similarly.
The political industry works similarly.