Sales trends refer to patterns and changes in consumer purchasing behavior over time. These trends can be influenced by various factors, including economic conditions, seasonal changes, and shifts in consumer preferences. Businesses analyze sales data to identify these trends, which helps them make informed decisions about inventory, marketing strategies, and pricing.
Understanding sales trends is crucial for companies to stay competitive. For instance, a rise in demand for eco-friendly products may prompt businesses to adjust their offerings. Additionally, tracking trends can help predict future sales, allowing companies to plan effectively and allocate resources efficiently.