Amazon's dominance in the UK market is influenced by various factors, including cultural, economic, and demographic elements. We collected and analyzed 383 variables to create a robust predictive model for Amazon's future revenue.
Industry Trend Analysis and Forecast
We experimented with various forecasting strategies. We first excluded 2022 because we thought the dramatic drop in online sales by £13 billion was an outlier.
But when we took relevant current events into consideration, the trends in our data seemed to make more sense.
The drastic increase in sales from 2019 to 2021 was largely due to the COVID pandemic and the inability to do in-person shopping. As the world returns to normal, these online sales figures have shifted down, so 2022's numbers look more like what we would have predicted back in 2017.
Numbers alone can't capture external factors like market trends, economic shifts, and consumer sentiment. By considering these contextual elements, our analysis offers deeper insights and more reliable forecasts.
Regression Analysis
