Analyzing the growth of FMCG sales in local market for better opportunities and pricing using big data

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DPID: 754

Abstract

This report analyzes sales data from the local retail store selling FMCG goods. This analysis aims to understand the consumer pattern, identifying patterns influencing sales which can help to identify opportunities for optimized pricing and inventory management. The key findings show that the overall sales were high in 2022, possibly due to the COVID-19 pandemic. The sales trend are highest in weekends, festivals and wedding seasons. Analysis of sales prices showed a strong positive correlation with MRP, which is directly correlated with each other. Sales forecasting using historical data revealed cyclical patterns that can help to manage inventory more effectively. By using these insights, we can create optimized pricing and targeted advertisements, which will help improve company profitability.