Sales growth for premium products is currently slowing, which is alarming for this premium smartphone brand. It needs realistic forecasting to understand how this global trend will impact its business and where to take action to mitigate risk.
Using Segment Forecasting in gfknewron Predict as a single source of truth across all key departments allowed quick decision making and put focus on possible actions to negate the impact. Now, sales, marketing, and category management use the 26-week-forecast continuously for faster reaction to new market developments.
Saving of weeks of internal discussions, meetings and misalignment around forecasted figures allowed a quicker reaction to the market developments compared to key competitors and a long-term increase in market share by 4%.
4
%
long-term increase in market share
Forecasting to mitigate risks