“…Other valuable covariate information, such as leading‐indicator products, distribution channel, advance purchases, social media, and Google trend, has also been exploited in sales forecasting (Aytac & Wu, 2013; Boone et al., 2018; Cui et al., 2018; Moe & Fader, 2002; Neelamegham & Chintagunta, 1999). In addition, clustering techniques and machine learning models have been leveraged to boost forecasting performance of new product sales (Baardman et al., 2017; Cohen et al., 2022b; Ferreira et al., 2016); the readers may find a comprehensive and recent review of forecasting techniques in Cohen et al. (2022a).…”