This document defines and compares trends and fads. It explains that trends are long-lasting patterns of change while fads are short-lived crazes. Trends can be seen across micro, macro, mega, and giga levels and affect multiple industries, while fads are transient and industry-specific. Key elements that make up a trend include addressing basic human needs, driving change through innovation, and having characteristics like consistency, ability to be worn, and simplicity. Spotting trends involves analyzing patterns of change over time across various dimensions like socio-cultural, economic, and political factors.