Do I use cohort analysis to plan seasonal inventory?
Asked 2 years ago
Good morning everyone. I run an e-commerce store that focuses on selling products catered to weather seasons and holidays of the Northern Hemisphere. While I find this method quite profitable, the inventory takes a lot of planning and analysis from my side. I came across something called cohort analysis, and apparently, it's used to predict customer behavior and identify truly value-providing products for customers. Do you think this would work for an e-commerce store that focuses more on holiday items, seasons, and festivals?
Jolina Regin
Thursday, October 06, 2022
A cohort analysis is used to predict customer behavior, and identify value-providing products for customers. Yes, a cohort analysis can be used to plan seasonal inventory. You can know which products are bought the most by customers and at what time or month they buy. You can do so much with a cohort analysis since you can split the cohorts based on various characteristics.
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