In selecting inventory for a small boutique, what type of data is derived from an internet article about fashion trends?

The information obtained from an internet article about fashion trends is classified as secondary data. Secondary data refers to information that has already been collected and published by others. In this case, the article represents the findings or insights of authors who have researched fashion trends, making it a suitable example of secondary data.

This type of data is valuable as it can help shape inventory decisions by providing insights into current trends, consumer preferences, and market dynamics without the retailer needing to conduct original research. Utilizing secondary data can save time and resources, allowing the boutique to make informed decisions based on established information rather than relying solely on data collected directly from potential customers or the market.

Primary data, in contrast, would involve original research conducted specifically for the boutique, such as surveys or focus groups. Qualitative data focuses on non-numeric information, often encompassing opinions and feelings, while market data is a broader term that generally includes both primary and secondary information relevant to market conditions. Thus, the distinction of secondary data is crucial in understanding its role in retail and inventory selection.