You’ve seen the news-online sales have increased dramatically throughout 2020, due in large part to the restrictions and brick & mortar store closings based on the Covid-19 pandemic. As reported by Digital Commerce 360:
Q1 online sales were up 14.6%
Q2 online sales were up 44.6%
Q3 online sales were up 37.1%
And similarly, just in, Black Friday was a record-breaking event for online sales, at +21.6%. While very positive for online sales, Retail Dive stated that year over year overall Black Friday sales were down by 5%. But then, sales promotions were spread throughout the month of November to offset the foreseeable reduction in store foot traffic on Black Friday, and sales in the first three weeks of November were up 7% year over year.
And there’s more to come with the reporting of Cyber Monday results next.
Online sales, Brick & Mortar sales, buy online pick up in store, or curbside, mobile shopping….
What do you do with all this information coming from many different channels of business? That’s a lot of pivoting. How do you forecast what’s next? Capitalize on the ecommerce demand? Track the trends to optimize your opportunities? Identify liabilities that require swift action to reduce your ownership? Optimize your inventory so you can improve your company bottom line? And prepare for a better 2021?
This is where a great forecasting platform can provide direction to help you manage the shifting sales channels and supply chains.
A comprehensive platform pulls all your pertinent information together in one convenient and easy to navigate location. No cutting, pasting and creating multiple spreadsheets that take up your valuable time from making critical and time sensitive decisions. You would like the information at your fingertips.
You need a system that can create the vision and efficiency needed to improve forecasting, align your inventory to demand and enhance the company profitability.
Items sold on the web will differ from curbside pick-up. You need a forecasting platform that will identify the opportunities in each channel and provide a forecasted demand to help meet your needs. In addition, with supply chain shifts, your strategic plans for purchases become more important as lead-times grow due to labor or transportation disruptions.
And you’d like dashboard analytics and visualization for the high-level overviews and the deep dive analysis.
Enter SAFIO Solutions
SAFIO Solutions is a cloud based, forecasting software solution for inventory optimization.
Making the forecasting process efficient and effective, SAFIO Solutions connects all channels and gathers all vital sales and inventory data, whether in one location or many, into the Sales Analysis & Forecasting platform.
An easy to use interface displays all information needed to make effective forecasting and buying decisions on one screen, helping to optimize inventory.
The SAFIO Solutions forecasting platform will save time and money, help to improve KPI’s and provide ROI in a short amount of time.
Contact the experts at SAFIO Solutions and get started on a better 2021!
