Research Article

Analyzing & Predicting Black Friday Sales of a Retailer

Volume: 15 Number: 3 August 31, 2024
TR EN

Analyzing & Predicting Black Friday Sales of a Retailer

Abstract

In this project, a retail store's Black Friday sales from prior years were examined, and sales projections for the next years were made using this information. A few demographic details and consumer basket amounts are among the data examined for this research. Correlations were found using the data that was examined for the study. Stores can identify their Black Friday sales strategy and use this knowledge to increase sales by evaluating the relationships between demographic data about their clients and their shopping behaviors. The artificial intelligence-supported forecasting model created as part of the research was trained using the same data, and sales projections for the upcoming years were computed. The consistency rate of the system was evaluated by comparing the sales data of the same retail store to the system that was trained using past sales data.

Keywords

References

  1. BlackFriday.com. (2020). Black Friday history and statistics. https://blackfriday.com/news/black-friday-history
  2. Eberhard, E. (2018, December). Dashing to the stores: Last-minute holiday trends to watch. Think with Google. https://www.thinkwithgoogle.com/consumer-insights/consumer-trends/last-minute-holiday-shopping-trends/
  3. Hand, R. (2024, February 24). What is demand forecasting? Importance and benefits of forecasting customer demand. ShipBob. https://www.shipbob.com/blog/demand-forecasting/
  4. Kaplan, M. (2018, November 28). Sales report: 2018 Thanksgiving, Black Friday, Cyber Monday. Practical Ecommerce. https://www.practicalecommerce.com/sales-report-2018-thanksgiving-black-friday-cyber-monday
  5. Kayapınar Kaya, S., & Yıldırım, Ö. (2020). Prediction model for automobile sales in Turkey using deep neural networks. Journal of Industrial Engineering, 57-74.
  6. LeCun, Y., Bengio, Y., & Hinton, G. (2015). Deep learning. Nature, 436–444.
  7. Liu, J., Liu, C., Xu, Y., & Zhang, L. (2020). Research on sales information prediction system of e‐commerce enterprises based on time series model. Information Systems and e-Business Management, 823–836.
  8. Murray, P. N. (2014, June 11). Why we really shop. Psychology Today. https://www.psychologytoday.com/us/blog/inside-the-consumer-mind/201406/why-we-really-shop

Details

Primary Language

English

Subjects

E-Trade

Journal Section

Research Article

Publication Date

August 31, 2024

Submission Date

July 1, 2024

Acceptance Date

August 3, 2024

Published in Issue

Year 2024 Volume: 15 Number: 3

APA
Demirağ, A., & Öncevarlık Yıldız, F. D. (2024). Analyzing & Predicting Black Friday Sales of a Retailer. AJIT-E: Academic Journal of Information Technology, 15(3), 195-214. https://doi.org/10.5824/ajite.2024.03.001.x
AMA
1.Demirağ A, Öncevarlık Yıldız FD. Analyzing & Predicting Black Friday Sales of a Retailer. AJIT-e: Academic Journal of Information Technology. 2024;15(3):195-214. doi:10.5824/ajite.2024.03.001.x
Chicago
Demirağ, Aşkın, and Fatma Dilan Öncevarlık Yıldız. 2024. “Analyzing & Predicting Black Friday Sales of a Retailer”. AJIT-E: Academic Journal of Information Technology 15 (3): 195-214. https://doi.org/10.5824/ajite.2024.03.001.x.
EndNote
Demirağ A, Öncevarlık Yıldız FD (August 1, 2024) Analyzing & Predicting Black Friday Sales of a Retailer. AJIT-e: Academic Journal of Information Technology 15 3 195–214.
IEEE
[1]A. Demirağ and F. D. Öncevarlık Yıldız, “Analyzing & Predicting Black Friday Sales of a Retailer”, AJIT-e: Academic Journal of Information Technology, vol. 15, no. 3, pp. 195–214, Aug. 2024, doi: 10.5824/ajite.2024.03.001.x.
ISNAD
Demirağ, Aşkın - Öncevarlık Yıldız, Fatma Dilan. “Analyzing & Predicting Black Friday Sales of a Retailer”. AJIT-e: Academic Journal of Information Technology 15/3 (August 1, 2024): 195-214. https://doi.org/10.5824/ajite.2024.03.001.x.
JAMA
1.Demirağ A, Öncevarlık Yıldız FD. Analyzing & Predicting Black Friday Sales of a Retailer. AJIT-e: Academic Journal of Information Technology. 2024;15:195–214.
MLA
Demirağ, Aşkın, and Fatma Dilan Öncevarlık Yıldız. “Analyzing & Predicting Black Friday Sales of a Retailer”. AJIT-E: Academic Journal of Information Technology, vol. 15, no. 3, Aug. 2024, pp. 195-14, doi:10.5824/ajite.2024.03.001.x.
Vancouver
1.Aşkın Demirağ, Fatma Dilan Öncevarlık Yıldız. Analyzing & Predicting Black Friday Sales of a Retailer. AJIT-e: Academic Journal of Information Technology. 2024 Aug. 1;15(3):195-214. doi:10.5824/ajite.2024.03.001.x