Retail Sales Forecasting

Retail sales forecasting is the process of estimating future sales performance based on historical sales data, market trends, economic conditions, and customer behavior. Businesses use these predictions to plan inventory levels, staff needs, and marketing strategies, aiming to meet customer demand efficiently while avoiding overstock or shortages. Accurate forecasting helps retailers make informed decisions, improve profitability, and stay competitive. It involves analyzing patterns and factors that influence sales, enabling proactive adjustments and better resource management in the retail environment.