How to Forecast Demand Accurately: A Pocket Guide for Fashion Retailers
Pre-season planning is one of the most complicated problems in forecasting. Every year, fashion retailers face the challenge of accurately predicting future demand for the next season.
What will be the baseline demand for a new item that will be introduced to the market six months from now on?
This is a billion-dollar question.
Fashion items have short life cycles, long lead times, and no historical data to draw upon. Rapidly changing customer preferences, new competition, macro influences, and ‘see now buy now’ trends make it incredibly hard to predict demand accurately in the long run.
Download this free pocket guide to find out:
- 6 commonly used methods to forecast demand for new items,
- How to do better pre-season forecasting,
- How to achieve better planning,
- How to generate more accurate forecasts.
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