How will your sales trend given specific events and how can you forecast for those unforeseen events that affect your business?
So how do you forecast your sales when you are not even sure what the future holds?
Here are 3 Sale Forecasting Tips to Consider:
- Plan Discounts in Advance
- Know your customers
- Pay attention to your internal supply inventory
A retailer needs to protect gross margins and cash flow when planning clearance markdowns. It’s best to plan out what you want your inventory rates to be by month. If you know how much inventory you have on hand each month, you’ll be able to calculate how many items you’ll need to clear through /discount and how much inventory you can bring in.
Truly knowing your customers buying habits allows you to forecast trends. For example – your sales may skyrocket when a holiday is approaching or when it rains. It depends on when your business ebbs and flows. If you are uncertain -look for trends in previous years.
When you need to cut costs a good thing to pay attention to is your supply inventory. Keep inventories low and eliminate fancy orders of unnecessary supplies like cool pens and expensive calendars etc.
Are you ready for an easier way of Sale Forecasting?
Schedule Your Free Consultation Today
Whatever your business challenge is, we can help you starting today.
Simply click the link below to schedule your free 30 minute phone consultation. We’ll focus on your #1 concern, and at the end of the call I’ll give you one tip or strategy that you can immediately use.
Does that make sense?
Schedule your free 30 minute
business consulting session today!