Related papers: Fashion Retail: Forecasting Demand for New Items
Accurate demand forecasting in the retail industry is a critical determinant of financial performance and supply chain efficiency. As global markets become increasingly interconnected, businesses are turning towards advanced prediction…
What is the future of fashion? Tackling this question from a data-driven vision perspective, we propose to forecast visual style trends before they occur. We introduce the first approach to predict the future popularity of styles discovered…
The fashion industry is one of the most active and competitive markets in the world, manufacturing millions of products and reaching large audiences every year. A plethora of business processes are involved in this large-scale industry, but…
Predicting future consumer behaviour is one of the most challenging problems for large scale retail firms. Accurate prediction of consumer purchase pattern enables better inventory planning and efficient personalized marketing strategies.…
Fashion retailers require accurate demand forecasts for the next season, almost a year in advance, for demand management and supply chain planning purposes. Accurate forecasts are important to ensure retailers' profitability and to reduce…
Demand forecasting in the online fashion industry is particularly amendable to global, data-driven forecasting models because of the industry's set of particular challenges. These include the volume of data, the irregularity, the high…
The fast fashion industry's insatiable demand for new styles and rapid production cycles has led to a significant environmental burden. Overproduction, excessive waste, and harmful chemicals have contributed to the negative environmental…
Fashion discounters face the problem of ordering the right amount of pieces in each size of a product. The product is ordered in pre-packs containing a certain size-mix of a product. For this so-called lot-type design problem, a stochastic…
We use customer demand data for fashion articles on Myntra, and derive a fashionability or style quotient, which represents customer demand for the stylistic content of a fashion article, decoupled with its commercials (price, offers,…
Online fashion sales present a challenging use case for personalized recommendation: Stores offer a huge variety of items in multiple sizes. Small stocks, high return rates, seasonality, and changing trends cause continuous turnover of…
Retail sales and price projections are typically based on time series forecasting. For some product categories, the accuracy of demand forecasts achieved is low, negatively impacting inventory, transport, and replenishment planning. This…
Being able to forecast the popularity of new garment designs is very important in an industry as fast paced as fashion, both in terms of profitability and reducing the problem of unsold inventory. Here, we attempt to address this task in…
With the prevalence of e-commence websites and the ease of online shopping, consumers are embracing huge amounts of various options in products. Undeniably, shopping is one of the most essential activities in our society and studying…
New fashion product sales forecasting is a challenging problem that involves many business dynamics and cannot be solved by classical forecasting approaches. In this paper, we investigate the effectiveness of systematically probing…
We study a problem of an online retailer who observes the unit sales of a product, and dynamically changes the retail price, in order to maximize the expected revenue. Assuming the demand of the product is price sensitive, we are interested…
The textile and apparel industries have grown tremendously over the last few years. Customers no longer have to visit many stores, stand in long queues, or try on garments in dressing rooms as millions of products are now available in…
Fashion is a large and fast-changing industry. Foreseeing the upcoming fashion trends is beneficial for fashion designers, consumers, and retailers. However, fashion trends are often perceived as unpredictable due to the enormous amount of…
In an era of increasing computational capabilities and growing environmental consciousness, organizations face a critical challenge in balancing the accuracy of forecasting models with computational efficiency and sustainability. Global…
Time-series forecasting is an important task in both academic and industry, which can be applied to solve many real forecasting problems like stock, water-supply, and sales predictions. In this paper, we study the case of retailers' sales…
In this paper, we describe a solution to tackle a common set of challenges in e-commerce, which arise from the fact that new products are continually being added to the catalogue. The challenges involve properly personalising the customer…