Forecasting demand for the upcoming fall semester is an important task for any college bookstore. Learn how you can go about forecasting demand in this week’s blog.
Community Colleges are Growing
The first thing to note when forecasting fall demand is that demand will be different for community colleges and 4-year institutions. For the past few years, community colleges have seen larger surges of enrollment compared to 4-year universities. While 4-year university bookstores will typically need to order much more than a community college bookstore due to the sheer size of these institutions, it’s still important to know for community college bookstores. If you manage a community college bookstore, it’s in your best interest to order a bit more inventory this year to account for the recent increase in community college enrollment across the country.
Look at Last Year’s Sales Data
Last year’s sales data gives you incredible insight into forecasting demand for the upcoming semester. Look at what sold well and what sold poorly. Did you have a particular product that flew off the shelves? What about one that sat collecting dust for months? You can use last year’s data to inform your buying decisions for the upcoming demand of the fall semester.
Sources
https://nscresearchcenter.org/final-fall-enrollment-trends/
https://universitybusiness.com/here-are-5-higher-ed-predictions-for-2026/
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