Ecommerce demand forecasting is the process of predicting and estimating the future demand of your business’ products or services and, ultimately, sales.
Using demand forecasting in your ecommerce business allows you to benefit in several ways
Strategized Pricing and Sales : You have total control over your pricing and the strategies you use to determine it, so keep in mind that prices are never fixed. Ecommerce demand forecasting helps you see where there’s opportunity for improvements here.
Fulfilled Customer Demand : Customer data is truly invaluable to any business. Traffic and purchase details are vital to informing how you launch campaigns, conduct email marketing, advertise and manage your inventory.
Reduced Risk : When you’re growing an ecommerce business, there’s always risk that comes with reward. The good news is that you can mitigate that risk with demand forecasting.
For more information, Read : https://www.business2community.com/ecommerce/why-use-ecommerce-demand-forecasting-for-your-business-02450189