A good sales forecast is essential for a brand to anticipate their stock needs at specific times. In this way, they can anticipate the organization of the catalogue based on the expected demand. Its objective is to allow the company to reach the proposed sales targets. And in what does this knowledge affect? Both in the product units that the manufacturer must have in its catalogue and in the price that can be established for each of them, since it can be a clear improvement for the pricing strategy of manufacturers. In addition, it will monitor the activity of retailers with respect to their products.
This tool, which is both necessary and complete, involves carrying out the study of certain aspects of the market in which each manufacturer acts in order to be clear about the characteristics of the landscape in which it operates. The key to making a sales forecast is to analyze the behavior of the demand. For this it is necessary to take into account five indicators that directly affect the sales report.
1. Sales history. Checking sales that have occurred in the past does not have to ensure a future sales level; however, it is a more than relevant indicator to identify the milestones that have been able to mark sales peaks: key dates, events in the pricing strategy, changes in the market, new products, etc.
2. Channel sales. When making the forecast study, it is essential to analyze and highlight the most relevant sales channels for the brand. In case the manufacturer does not have a direct sales channel to the final consumer, it is vital to know in good hand what is the sales volume reached by each of the retailers with which it participates. In this way you can have a global vision of the product units that have output and provide for replacement, for example.
3. Current sale. What is the current demand situation? Does the brand find the market ratio raised? This point of analysis is essential to work together with the marketing and sales departments, as they will know for sure what the objectives are and the key figures for the development of the forecast. Furthermore, it is with these axes of the brand that new sales opportunities can be traced and the strategies to be followed can be outlined both in the updating of catalogue products and in their prices.
4. Events. When analyzing the sales route of the brand in each of its channels, it is necessary to indicate which have been the moments in which there have been events on the route. Holiday season? Price campaigns promoted by the brand? Discounts? It is essential to locate and understand the purchase flow at all times in order to adapt the supplier's catalogue to market demand.
5. Competition analysis. Finally, for a complete and adjusted to the reality of the market forecast, it is essential to perform a competition analysis. Benchmarking, price monitoring, campaign tracking ... All information is little. Of course, it is necessary to contemplate the conditions, characteristics and activity of some and other companies are framed in a common scenario.
For manufacturers, a monitoring tool can be the philosopher's stone of the forecast. With the help of this type of solutions it is possible to concentrate in the same space all the necessary data to make a sales and market report. The key? Applications that allow control of the retail price, the current stock in each retailer as in the store of the brand and a catalogue management tool. In this way, any manufacturer can have at all times the information related to the sale of their products and prepare in advance pricing and marketing strategies that allow them to achieve brand success.
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