February 22, 2016 | Written by: Michael Dobbs
Categorized: Channel Collaboration
There are SO MANY things that can affect your business when you are running a brand. Sales can shoot UP or DOWN based on trends, weather, events, some celebrity using your product…. Businesses today are using Big Data Analytics AND Cognitive Analytics to try to understand these Ups and Downs and to benefit from them.
Sometimes trend’s causes are out of our hands. An example… Off Insect Repellant (an SC Johnson Product) is seeing sales grow significantly domestically, especially in southern states, out of a fear of the Zika Virus which is primarily caused by a mosquito bite. South of the boarder sales are skyrocketing. In Brazil, the epicenter of the virus, Sales are increasing 900%. This is obviously great for sales, even if SC Johnson has cut prices of products in Argentina due to a “request” of the government.
Other trends to watch…well, how about travel? 41% of travelers planning vacation in that region are deciding to postpone their travel. This will affect Airlines and the rest of the Travel Industry. AND then there’s the Olympics, this year in Brazil. The country has invested so much into the games…Stadium, infrastructure, etc… If you build it they will come…well, maybe not!
What trends are affecting YOUR business? How can you get ahead of the trends to maximize your success???
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