We provide #forecasts that are based on hard #data during the pitch process, before store launch, every quarter, and at the start of each year.
And there’s a reason why these #updates are so frequent. Sales #projections aren’t set in stone. As situations arise and things #change (something that seems like a constant in China) the numbers have to be updated accordingly.
For example, after launching “Brand A” in China they encountered:
- Trademark issues causing severe traffic loss - Limited #marketing support from the brand - No new products to launch, serious quality issues with existing products - Fierce #competition within their category - Not to mention… COVID-19
The result? We had to lower their sales #expectations. They weren’t happy…and are still insisting on meeting the initial targets.