From the course: Business Analytics: Sales Data
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Identify sales seasonality to guide strategy
From the course: Business Analytics: Sales Data
Identify sales seasonality to guide strategy
- [Instructor] Have you ever noticed how your sales rise and fall in a rhythm? It's not always about your products, price, or promotions. Often, it's just the season. Sales seasonality refers to the predictable rise and fall of sales over time, typically on a monthly, quarterly, or yearly basis. For example, e-commerce peaks in November during Black Friday. B2B sales may slow in July and December when decision makers are on holiday. And a flower shop sees a spike in sales around Valentine's and Mother's Day. These patterns repeat year over year, and when you can see them clearly, you can plan more effectively. Ignoring seasonality can lead to confusion or bad decisions. Let's say your sales dropped in February and you might panic, cut ad budgets or change pricing, but what if that drop happens every February? That means it's a seasonal norm. And accordingly, you have to plan your campaigns, inventory, staffing, and…
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