Factors Influencing Sales Forecasts in Financial Planning Process

The video explores the sales forecasting process, emphasizing its role in business planning. It highlights the challenges of forecasting due to social, economic, and competitive factors. The video discusses the impact of consumer behavior and technology, such as online shopping, on sales. It also covers seasonality, using Apple as an example, and explains how economic variables like GDP and inflation influence forecasts.

What challenges do businesses face when trying to predict future sales accurately?

How do competitive environments influence sales forecasting?

In what ways can businesses adapt their strategies based on changing consumer preferences?

Describe the impact of online shopping trends on traditional retail sales forecasts.