Some Sources of Information That Retailers Use to Develop Forecasts

question 24

Multiple Choice

Some sources of information that retailers use to develop forecasts for fashion merchandise categories include:

• A) vendors
• B) fashion and trend services
• C) previous sales data
• D) market research
• E) All of these

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Definitions:

Impulse Buying

The act of purchasing items on the spur of the moment, often without prior planning.

Hardwired Heuristics

Cognitive shortcuts or rules of thumb that are ingrained or innate, often leading to quick decision-making or judgments.

Behavior Change

A modification in an individual's actions, habits, or attitudes, often targeted through various interventions for health or social improvement.

Faster Decisions

The process of making choices or conclusions more rapidly, often necessary in dynamic or time-sensitive environments for efficiency or competitive advantage.