A two-stage dynamic sales forecasting model for the fashion retail

Authors:
Yanrong Ni;Feiya Fan
Affiliations:
School of Mechanical Engineering, Shanghai Jiaotong University, Shanghai 200030, China;School of Mechanical Engineering, Shanghai Jiaotong University, Shanghai 200030, China
Venue:
Expert Systems with Applications: An International Journal
Year:
2011

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Abstract

The difficulty with fashion retail forecasting is due to a number of factors such as the season, region and fashion effect and causes a nonlinear change in the original sales rules. To improve the accuracy of fashion retail forecasting, a two-stage dynamic forecasting model is proposed, which is combined with both long-term and short-term predictions. The model introduces the improved adjustment methods, the main adjustment model and error forecasting model in the adjustment system collaborated with each other. The real-time data are demonstrated by applying the model in wireless mobile environment. The experiment shows that the model provides good results for fashion retail forecasting.