Forecasting color trends- what's going on

The Los Angeles Design Center recently hosted a series of talks entitled Designers Forum; Business Matters. Session two was on "Color Theory: Forecasting The Impact Of Tones And Hues". Of course, I was thrilled to discover the talk was available online.
The panel consisted of representatives from the art, design, and fashion perspective. "Not oracles of color or trends," as one panelist demurred, but rather why certain colors are influencing trends.

They discussed how social and economic shifts in our society effect color choices.

Michael Berman, interior designer, says younger clients, retaining the services of an interior designer, are much more likely to want something more uplifting. "They don't want yesterdays taupes and gray beiges. They are really looking for happiness and cheerfulness. That being said, a lot of our more established clients, another generation, even clients that have come back to me over the years; they like the status quo. They like the feeling that, let's just pretend everything is hunky dory... They're much happier with the calmness, the sereneness of neutrals and things."
According to Nick Verreos, representing the fashion perspective, there is also a direct relationship between the economic situation and its impact upon fashion and color. Optimistically, he believes we are slowly trying to come out of the recession from a visual standpoint. Whereas a few years ago everything in the stores was black and gray, if you go into a department store now, it's like an Oprah studio, Nick jokes.

What else did the panel have to say that kept this audience clinging to their every word? Check out the video for yourself!