The consumer demand forecast market that uses machine learning technology will grow by 30% in 2019, said the leading developer of software for managing delivery chains in production and retail at GoodsForecast.
In the last few years, the market for IT solutions used to predict consumer demand has shown a significant growth. Consumers want discounts. Robots are able to forecast the demand, says Andy Lisitsa, co-founder and CEO of GoodsForecast forecasting firm. The share of Russians who visit stores only during sales discounts has reached almost 50%, according to a survey made by Sberbank CIB.
Discounts are the key factor that influences decision-making, the GoodsForecast press service says. According to the Nielsen data and measuring company, promotional campaigns account for almost two thirds of current retail. An average discount on consumer goods has reached 23%.
Businesses, industrial facilities and retail companies show an interest in IT solutions that can forecast sales. Overproduction forces them to lower prices, which leads to smaller profits.