Velvet is definitely a trend this season. It might not be everyone's cup of tea though, especially if you remember velvety fashion sins of the 90's.
In my opinion, it is all about how you wear velvet and how the fabric and item looks, the quality itself. Pure velvet like shown here is usually more matte and can be more easily combined with other pieces.
Small, fitted velvet items can look great, whereas frilly blouses with big sleeves can make you look frumpy. If you want to be on the safe side, buy pieces that are simple, avoid buying velvet that looks too shiny and thin like the Halloween costume type (often low quality panne or crushed velvet).
Crushed (left) and Panne (right) velvet can look great for gowns and party dresses, or about any festive occasion. I believe it is possible for them to be worn during the day too, if the item itself isn't "loud". A popular look of the 90's was a tight Crushed Velvet "one piece shirt" with a high waisted pair of jeans or skirt and that is also how I have seen many wear velvet now.
Black leather makes velvet much cooler. For a casual day I wore a sweater over the actual dress. I decided to go with a shorter sweater for this look because I felt it goes better with the overall "shape" of the outfit and cinched the dress (Vintage H&M) at the waist underneath. To keep the look casual I wore burgundy, Doc Marten like boots (H&M), the tie dye scarf picks up the burgundy in both, the shoes and the sweater and gives the look a bit more color. It could have been worn black on black too, but I love that little touch of color. My small flap purse has the same midnight blue, almost black color of the skirt.
Handmade Ruby ring (dawanda.com)