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MySales help retailers with automating sales forecasts and ordering. Chudo Market entirely migrated its forecasting and auto-ordering operations to MySales in April 2020. The results are impressive.
Forecast automation
Any retail business faces a challenge of satisfying customer needs. The key role plays the availability of goods at the right time and at the right place - says Chudo Market co-founder Oleksandr Udovenko. Excessive stock generates costs and inconvenience for warehouse staff. With too little goods on shelves customer leaves disappointed. The other big thing is ordering predictability and the possibility of planning the purchases ahead. This is especially important for imported goods which take much more time to deliver.
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After the integration of MySales, the accuracy of sales forecast at Chudo Market exceeds 80%. This indicator depends on the volume of sales - the larger the volume, the more accurate the forecast. For popular items like bananas and sugar, the forecast accuracy is even over 95%.
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Auto-ordering and promo modules
Promotions have a strong impact on sales and most retail chains conduct promos all over the year. 70-80% of consumers are promo hunters according to Nielsen research. Typically, retail chains make sales from 30% to 80% turnover from promos.
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