Recently we talked about how to overcome common hurdles to direct mail campaigns. Today, we’d like to talk about another scenario that’s all too familiar to retailers:
A new product flew off the shelves in a week, but now repeat purchases are looking disturbingly low.
When this happens, it can seem like there’s no tangible reason. If an item was so popular yesterday, why are tomorrow’s sales so uncertain?
It could be that your seasonal data had a shorter life span than originally thought. Or perhaps it missed a one-time factor such as a tax-free weekend that accounted for the bulk of sales.
Whatever the reason, the possibility of future losses can be scary.
Not long ago, an eSite client faced this very problem. The company was making crucial decisions based on quarterly data that took days to decipher and was often outdated by the time it was put to use. Then a new eSite tool got the corporation up-to-the-minute information on emerging trends and buying habits.
That’s when everything started to change.
Armed with highly accurate forecasts, the company was suddenly able to swiftly alter its strategies to respond to the unique demands in each of its hundreds of markets.