I use 2014-2019 U.S. Census Bureau retail sales data to generate forecasts (using Minitab) for supermarket, online, department store, and total retail sales. I then compare the January-July 2020 actual sales amounts to the forecasts. Supermarket and Online sales were higher than forecast for March to July, 2020. Department store sales were less than forecast. Total retail sales for March to July 2020 were 206,427 million less than expected. June 2020 total sales were marginally less than forecast, while July 2020 total retail sales were higher than forecast. The YouTube video and a link to my Excel can be found by clicking here.
About Mark Nigrini
Mark J. Nigrini, Ph.D. is an associate professor at the John Chambers College of Business and Economics at West Virginia University. Mark is the recipient of the 2020 Outstanding Accounting Educator award of the West Virginia Society of CPAs. In his spare time, he enjoys overseas travelling, playing darts, listening to music, watching British television series, and walking 10,000 steps per day.
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