登录查看更多内容

How can you account for economic trends in e-commerce demand planning?

由人工智能和领英社区提供技术支持

E-commerce demand planning is the process of forecasting and managing the inventory, sales, and fulfillment of online orders. It involves analyzing data from various sources, such as historical trends, customer behavior, market conditions, and external factors. However, one of the most challenging aspects of e-commerce demand planning is accounting for economic trends that can affect the demand and supply of products and services. Economic trends can be cyclical, seasonal, or unexpected, and they can have a significant impact on the profitability and performance of e-commerce businesses. In this article, we will discuss how you can account for economic trends in e-commerce demand planning and what strategies you can use to optimize your e-commerce operations.

此文章中的业界达人

由社区从 7 条内容中精选。了解更多

Omer Seyfeddin Sener

Co-Founder & Managing Partner | o2o Beauty | UCLA | Panorama Professional | Partner in Crime |
Burc Tanir

The E-Commerce Pricing Guy

1 Understand the economic indicators

One of the first steps to account for economic trends in e-commerce demand planning is to understand the key economic indicators that can influence the demand and supply of your products and services. Economic indicators are statistics that measure the health and direction of the economy, such as GDP, inflation, unemployment, consumer confidence, and interest rates. These indicators can help you assess the current and future state of the economy and how it may affect your target market, your competitors, and your suppliers. For example, a high unemployment rate may reduce the disposable income and purchasing power of your customers, while a low interest rate may encourage more borrowing and spending. By monitoring and analyzing these indicators regularly, you can anticipate and prepare for the changes in the economic environment and adjust your demand planning accordingly.

添加您的观点

Burc Tanir

The E-Commerce Pricing Guy
举报内容
To price products in a profitable and competitive way, an e-commerce merchant must have a clear understanding of inflation and how it is passed through their COGS and also indirectly to their competitors'. Because without a clear view of how competitors react to inflationary pressures, an e-commerce merchant may react way too quickly to increasing costs, end up in an uncompetitive price point, and may lose sales and customers. On the other hand, they may lag behind and fail to reflect increased COGS into their price points in time and underprice themselves for a period when all the competitors have actually already increased their prices.

已翻译

赞

2 Segment your products and customers

Another step to account for economic trends in e-commerce demand planning is to segment your products and customers based on their sensitivity and responsiveness to the economic conditions. Product segmentation involves categorizing your products according to their characteristics, such as price, quality, functionality, and demand elasticity. Demand elasticity refers to the degree to which the demand for a product changes in response to a change in its price or income. For example, luxury products tend to have high demand elasticity, meaning that they are more sensitive to changes in price or income, while essential products tend to have low demand elasticity, meaning that they are less sensitive to changes in price or income. Customer segmentation involves grouping your customers according to their demographics, preferences, behavior, and loyalty. For example, you can segment your customers by age, gender, income, location, purchase frequency, and retention rate. By segmenting your products and customers, you can identify the different segments that are more or less affected by the economic trends and tailor your demand planning strategies accordingly.

添加您的观点

Omer Seyfeddin Sener

Co-Founder & Managing Partner | o2o Beauty | UCLA | Panorama Professional | Partner in Crime |
举报内容
Segmenting your products and customers is a smart move in e-commerce. It helps you adapt to economic trends effectively by customizing your strategies for each segment's sensitivity and responsiveness. Stay agile and meet your customers where they are in the market.

已翻译

赞
Burc Tanir

The E-Commerce Pricing Guy
举报内容
By segmenting products according to their price competitiveness and profitability, e-commerce merchants can actually better plan their paid product promotions and may consider allocating the significant majority of their paid budgets towards those items and aim for generating revenue organically for the remaining group.

已翻译

赞

3 Use scenario planning and simulation

A third step to account for economic trends in e-commerce demand planning is to use scenario planning and simulation tools to test and compare different scenarios and outcomes based on the economic variables. Scenario planning is a method of creating and evaluating alternative future scenarios based on different assumptions and factors. For example, you can create scenarios based on optimistic, pessimistic, or realistic economic projections and see how they would affect your demand and supply. Simulation is a technique of using mathematical models and algorithms to mimic and analyze the behavior and performance of a system under different conditions. For example, you can use simulation tools to estimate the impact of economic trends on your inventory levels, sales volumes, and fulfillment costs. By using scenario planning and simulation, you can improve your decision-making and risk management and optimize your demand planning strategies.

添加您的观点

Omer Seyfeddin Sener

Co-Founder & Managing Partner | o2o Beauty | UCLA | Panorama Professional | Partner in Crime |
举报内容
Scenario planning and simulation tools are your allies in e-commerce demand planning. They empower you to anticipate and adapt to economic trends effectively. By exploring different scenarios and outcomes, you can make informed decisions, manage risks, and fine-tune your demand planning for success

已翻译

赞

4 Implement agile and flexible processes

A fourth step to account for economic trends in e-commerce demand planning is to implement agile and flexible processes that can adapt and respond to the changing economic situations. Agile and flexible processes are those that can quickly and easily adjust to the fluctuations in demand and supply, such as changing prices, promotions, product assortments, inventory levels, and fulfillment methods. For example, you can use dynamic pricing to adjust your prices according to the market conditions and customer behavior, or you can use dropshipping to outsource your fulfillment to third-party suppliers and reduce your inventory and logistics costs. By implementing agile and flexible processes, you can increase your customer satisfaction, loyalty, and retention, as well as your operational efficiency and profitability.

添加您的观点

Omer Seyfeddin Sener

Co-Founder & Managing Partner | o2o Beauty | UCLA | Panorama Professional | Partner in Crime |
举报内容
Embrace agility and flexibility in your e-commerce processes to ride the waves of economic trends. These dynamic strategies not only enhance customer satisfaction and loyalty but also boost your operational efficiency and bottom line. Stay nimble, stay ahead.

已翻译

赞

5 Monitor and evaluate your performance

A fifth step to account for economic trends in e-commerce demand planning is to monitor and evaluate your performance and results regularly and systematically. Monitoring and evaluation involve collecting, analyzing, and reporting data and metrics that measure the effectiveness and efficiency of your demand planning strategies and processes. For example, you can use key performance indicators (KPIs), such as sales growth, inventory turnover, stockout rate, gross margin, and customer satisfaction, to track and compare your performance against your goals and benchmarks. By monitoring and evaluating your performance, you can identify the strengths and weaknesses of your demand planning, as well as the opportunities and threats from the economic trends, and make the necessary adjustments and improvements.

添加您的观点

Omer Seyfeddin Sener

Co-Founder & Managing Partner | o2o Beauty | UCLA | Panorama Professional | Partner in Crime |
举报内容
Consistent monitoring and evaluation are your compass in navigating the e-commerce landscape. With KPIs as your guide, you can pinpoint what's working, what needs tweaking, and where opportunities lie. Stay vigilant and responsive to stay ahead of the curve

已翻译

赞
Burc Tanir

The E-Commerce Pricing Guy
举报内容
A key area that needs to be continuously monitored by an e-commerce merchant is pricing - or, more specifically, price competition. By leveraging automated competitor price tracking tools like Prisync, e-commerce merchants can fully automate their competitive intelligence efforts and can always keep tabs on the market and act dynamically for maximum sales volumes and profit margins.

已翻译

赞

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

E-commerce

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How can you account for economic trends in e-commerce demand planning?

1

2

3

4

5

6

1 Understand the economic indicators

2 Segment your products and customers

3 Use scenario planning and simulation

4 Implement agile and flexible processes

5 Monitor and evaluate your performance

6 Here’s what else to consider

E-commerce

给文章评分

感谢您的反馈

更多E-commerce相关文章

更多相关阅读内容

How can you account for economic trends in e-commerce demand planning?

1

2

3

4

5

6

1 Understand the economic indicators

2 Segment your products and customers

3 Use scenario planning and simulation

4 Implement agile and flexible processes

5 Monitor and evaluate your performance

6 Here’s what else to consider

E-commerce

给文章评分

感谢您的反馈

查看其他技能