Sales Forecasting Models

Sales Forecasting and Market Planning Systems remain one of the most valuable but least understood tools in the chain retailer's site selection process. The process is complicated by the statistical noise in current store performance data (which depend on many factors other than real estate), weak black box approaches taken by some vendors who confuse statistics with real world models and the absence of comprehensive data on the retail world. TheRetailPlant.com team literally "wrote the book" on forecasting retail performance and most retailers and vendors today use some version of this logical, customer-oriented approach to forecasting.

TheRetailPlanet.com offers several options for helping companies interested in improving or adding sales forecasting tools as part of their planning processes:

  • Analysis & Recommendations: Our Founder, Dr. Richard Fenker and the TRP Team will examine your current sales forecasting approach, evaluate its strengths and weaknesses and then make recommendations for a Best Practices approach to accomplish your company's goals.
  • A Scoring Model that Forecasts Sales: This is a custom scoring model for your locations constructed in our Google Maps Retail Planning Platform where the scores for locations correspond to an estimated sales range.
  • A Comprehensive Sales Forecasting System: This is a traditional, full featured sales forecasting and market planning system that predicts sales for new or existing locations, estimates cannibalization between stores and allows you to quickly evaluate any market for potential gaps.
  • Update Your Current System by Integrating Into Our Google Maps GIS Platform: Tired of operating a model you like with an outdated GIS platform or IT Requirements that no longer make sense? Most modeling systems can be upgraded into our Google Maps application that gives you a full set of tools, views and data for dealing with the world in real time mode. It is automatically updated every year --- and with Google, you can be confident that the technology won't be disappearing anytime soon.