Retailers have invested heavily in predictive analytics to drive accurate purchasing. Yet they still have significant overstock problems because even the most sophisticated models can’t predict variable impacts like COVID-19 and drastic shifts in consumer demand resulting from supply chain delays, inflation, and high interest rates.
In 2021, fueled by the convenience of online shopping, governmental stimulus checks, and more time at home, consumers stocked up on electronics and home goods. They even updated their wardrobes as the world reopened. Retailers were hopeful the spending sprees would continue; however…
