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Improving Purchase Forecast for Cosmetics by Modelling Customer Purchase Behavior

Published: 15 July 2019 Publication History

Abstract

The traditional inventory forecasting method cannot accurately predict the demand of cosmetics consumer market, because cosmetics market has too many imported items, seasons discount, festival discount promotions, product combination promotions, and other sales variables. In addition, the company often send cosmetic products by air in the European region due to insufficient stock. This study analyzes the point of sale data of a real cosmetic company through the sequence analysis algorithm. From the research results, the order characteristics of consumers' purchases can be obtained, which helps the company to predict the quantity of goods purchased in each season, improve inventory management, and understand the preference of product portfolios in a more precise way.

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  • (2024)Consumer buying behavior towards point-of-sale material of halal cosmetic productsCogent Business & Management10.1080/23311975.2024.232202011:1Online publication date: 11-Mar-2024

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    cover image ACM Other conferences
    ICEME '19: Proceedings of the 2019 10th International Conference on E-business, Management and Economics
    July 2019
    297 pages
    ISBN:9781450372190
    DOI:10.1145/3345035
    Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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    • Beijing University of Technology

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    Association for Computing Machinery

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    Publication History

    Published: 15 July 2019

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    Author Tags

    1. Consumer Behavior
    2. Data Mining
    3. Inventory Management
    4. Sequence Analysis

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    • (2024)Consumer buying behavior towards point-of-sale material of halal cosmetic productsCogent Business & Management10.1080/23311975.2024.232202011:1Online publication date: 11-Mar-2024

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