Seasonality is the heartbeat of retail, with key shopping events like upcoming Mother’s Day and Easter driving significant sales peaks. In 2024, UK retail spending for Mother’s Day reached £1.4 billion, up from £1.28 billion in 2023. Easter remained a major spring shopping event, with consumer spending a projected £1.9 billion, marking a 4% increase from the previous year. With seasonal events delivering this level of impact to the economy, it’s important for retailers to be harvesting and analysing data to create accurate forecasts and not just rely on gut instinct.
To maximise seasonal opportunities, data-driven decision-making is essential. At CCW Learning Consultants, we work with retailers, helping to implement and train users on platforms such as Pyramid Analytics to analyse retail data and make informed decisions – particularly on inventory optimisation and stock availability.
The Importance of Forecasting and WSSI in Seasonal Planning
The Weekly Sales, Stock & Intake (WSSI) report is a fundamental tool for managing Open To Buy (OTB) and replenishment levels. However, forecasting seasonal demand requires adaptability. Key events like Mother’s Day, Easter and Father’s Day shift dates each year, impacting sales patterns and inventory planning. Without adjusting forecasts accordingly, retailers risk stock shortages or excess inventory that will eat into their profitability.
With advanced forecasting tools and AI-driven insights, retailers can:
- Adjust forecasts dynamically for shifting event dates.
- Optimise inventory allocation to meet demand spikes.
- Reduce the need for markdowns or out of stocks through predictive analytics.
- Improve supply chain efficiency with real-time data insights.
Utilising “Last Mile Analytics” with AI & Gen BI
Harnessing cutting-edge technology is no longer optional – it’s a necessity to stay ahead of the competition. Pyramid Analytics offers predictive and prescriptive analytics solutions that enable retailers to make smarter, faster decisions. By leveraging AI and Generative BI, retail teams can fine tune their forecasts with real-time insights, ensuring every seasonal opportunity is maximised.
How CCW Learning Consultants Can Help
At CCW Learning Consultants, we are a training and implementation partner for Pyramid Analytics, specialising in providing tailored training programmes to help retailers effectively utilise the Pyramid platform, and empowering retail teams with the skills and tools needed to make smarter, data-driven decisions. From focusing on user adoption through to maximising the value of the platform’s intelligence capabilities across all aspects, from forecasting, WSSI and other AI-powered analytics, we work with you to ensure your business is ready to tackle every seasonal peak with confidence.
Are you ready to future-proof your retail strategy? Let’s discuss how we can optimise your seasonal forecasting with advanced analytics.
