This chapter deals with forecasting sales (in units or money), where an explicit distinction is made between sales of durable goods (computers, cars, books) and sales of utilitarian products (SKU level in supermarkets). Invariably, sales forecasting amounts to a combination of statistical modeling and an expert’s touch. Models for durable goods sales are usually based on (variants of) the Bass model, while SKU sales forecasts are typically based on simple extrapolation methods. Forecast evaluation is not standard due to the interaction of model and expert.

Additional Metadata
Keywords SKU-level sales, diffusion, durable goods, human judgment, sales forecasting
Publisher Erasmus School of Economics
Persistent URL hdl.handle.net/1765/17159
Series Econometric Institute Research Papers
Journal Report / Econometric Institute, Erasmus University Rotterdam
Citation
Franses, Ph.H.B.F. (2009). Forecasting Sales (No. EI 2009-29). Report / Econometric Institute, Erasmus University Rotterdam (pp. 1–28). Erasmus School of Economics. Retrieved from http://hdl.handle.net/1765/17159