Best practices in supermarket sales forecasting today
Knowing what forecasting model is the best fit for your grocery concept is a vital part of getting accurate sales projections. Here, we explore some approaches we take with our clients.
Which type of forecasting model is the best fit for each type of supermarket operator?
The gravity model emerged as the dominant sales forecasting model in the 1970s and 1980s and remains the most common approach utilized by conventional grocers.
However, with changing consumer behaviors and the ongoing segmentation of the supermarket industry, the effectiveness of the gravity model in the current food retailing environment depends on the specific type of grocery operator and their consumer strategy.
In this video we cover;
- The impact of changing consumer behavior on the supermarket industry
- What goes into an accurate sales projection
- How to measure cannibalization impacts
- The optimal forecast model for different types of operators
This session, presented by Dave Huntoon, Matt Montgomery, and Greg Tremellen focuses on the myriad approaches to sales forecast modeling in the grocery sector, and how these models can be used to address the biggest challenges facing supermarket operators and real estate departments today.
The gravity model emerged as the dominant sales forecasting model in the 1970s and 1980s and remains the most common approach utilized by conventional grocers.
However, with changing consumer behaviors and the ongoing segmentation of the supermarket industry, the effectiveness of the gravity model in the current food retailing environment depends on the specific type of grocery operator and their consumer strategy.
In this video we cover;
- The impact of changing consumer behavior on the supermarket industry
- What goes into an accurate sales projection
- How to measure cannibalization impacts
- The optimal forecast model for different types of operators
This session, presented by Dave Huntoon, Matt Montgomery, and Greg Tremellen focuses on the myriad approaches to sales forecast modeling in the grocery sector, and how these models can be used to address the biggest challenges facing supermarket operators and real estate departments today.
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