This Is The Official 'Color Of The Year' For 2014

Expect to see a lot of "Radiant Orchid" around next year - Pantone just announced the purple hue as it's 2014 Color Of The Year.

It might sound silly, but retailers and designers pay attention to Pantone's yearly selections. And the "global color authority" takes the Color Of The Year very seriously.

To select the color, Pantone "quite literally combs the world looking for color influences," according to its website.

They look at the entertainment industry, new art collections, popular travel destinations, and technology.

Executive Director of the Pantone Color Institute Leatrice Eiseman has made the color decision for the past 13 years.

Pantone's Vice President of Consumer Licensing Lisa Herbert told Business Insider in April how the process works: "We deliver the news in a sealed envelope, and we have our representatives go out to [partner companies] in their trench coats with their suitcases. They have to sign a confidentiality agreement and the color cannot be revealed until we say so."

This year's color was emerald.