Three indicators for cosmetics and how to leverage for forecasting
Leading indicators for CPG: Cosmetics
With the global cosmetics market projected to grow to $417 billion by 2030, understanding the market drivers and upcoming headwinds and tailwinds is imperative.
In the same way that an economist considers macro level indicators to predict future economic conditions, Prevedere helps individual businesses identify their unique leading indicators and then create cause-and-effect AI prediction models and forecasts. These are then blended with internally generated forecasts to ‘market validate’ any final demand and cost forecasts for planning needs.
This executive brief identifies three leading indicators for cosmetics consumption, and how to incorporate them into predictive planning models – as a way to cut forecast misses and maximize market opportunity. They are:
Spending Plans: Health & Beauty
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About Prevedere, Inc.
Prevedere is the world’s leading provider of predictive analytics technology and solutions based on econometric modeling, enabling intelligent enterprises to understand and quantify the impact of external factors as part of their strategic planning and forecasting. Our global data repository and patented AI platform enable financial executives and operational planners to identify market drivers, quantify the future impact of economic volatility, generate performance forecasts, and optimize plans based on market foresight.
Prevedere’s automated AI model monitoring provides an early warning system when unplanned market shifts and anomalies are predicted, enabling planners to future proof business performance. Many of the world’s leading consumer packaged goods, retail, logistics, and manufacturing companies leverage Prevedere to generate economic intelligence, spot market opportunities, mitigate risks, and deliver exclusive competitive advantage.