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How to do a sales forecast?  

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reporte de ventas

Know how to perform a projection of sales it is very important to the business retail, as the good management of the numbers is essential to lead us to success. In this post we will explain it!

To be able to accurately forecast sales it is important to determine when your business will be profitable and if you will need an initial funding. But, in the case of new businesses, this can be more complicated as we do not have historical data for analysis.

What is the sales forecast?

 The projection of sales or also known as sales forecast it is a projected income based on the consumption trends and estimates of products to sell in a given period.

Companies use the projection of sales to create other important documents of the company, such as sales targets departmental and individual budgets for all departments and forecasts of growth for investors.

The preparation of a sales forecast requires the accumulation of critical data and the collection of information in a financial report comprehensive. A projection of sales it must be broken down into monthly periods that span a year, either on the basis of the calendar or fiscal year.

To make a projection of sales in 7 steps

Thinking of the possibility that a store managers and in general, any person related to the retail industry may be able to develop your projection of saleswe have developed a list of 7 simple steps.

1. Investigates the profile of your target audience

With this you will develop a report on the buying trends of your customers. Your target audience is-who do you think who will be your potential clients, and the trends are changes in the buying habits of that target audience.

For example; if the clients expressed a great interest in buying at the store from which it was introduced a new product, then we can assume an increase in sales based on the percentage of your customers who said they would buy this new product.

To do this it is important to conduct marketing studies in order to find out how your new product meets the expectations of the customers.

2. Collect historical data of the store

Gather historical data on the amount of income that the shop generated from similar products with a similar goal. Use this information as a guide to the sales revenue expected for the new products.

3. Geographic location of sale

To target your geographic location of the sale is the third step, as the place where you sell your products can be an important factor in terms of the amount of revenue you generate.

To do this make sure that your retail locations reach your target audience and that it has implemented a system of sales that maximizes the coverage of sales to potential customers.

proyeccion de ventas

4. Analyze the competition

Examines the competition in your sales areas, and determines the impact it will have on your To do this compare your products with those of your closest competitors and use the numbers of market share to determine how competition will affect your sales.

The market share is the percentage at which you sell, and the percentage that your competition will sell. If there is a market of $ 2 million and you have a market share of 20%, then you can use $ 400,000 in sales as an average of the forecast.

5. Investigates products and new releases

Examines the products and the new releases of the competition to see if there is something you offer that your store is not doing. If so, this is a powerful marketing tool to attract sales.

Adjusts the estimates of the market share up or down according to the force with which you feel will perform against the competition.

6. Collects information

Gather all the information possible in the sales forecast for the upcoming year based on the data collected from the retail analytics.

7. Measure sales forecasts

Finally, it is very important to measure the sales forecasts from your associates with the data it has collected, and to determine a forecast monthly sales for the next year.

Conclusion

The good estrategias commercial  open the way to achieve the best sales in the store, however we must not forget the importance of the projection of salesas in a sector as competitive as retail, it becomes necessary to go a step further to avoid financial mistakes that affect the profitability and therefore the future of the business.

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