Research On Time Series Forecasting-Based Pricing Strategy for Supermarket

Abstract

In fresh food supermarkets, vegetables have a short shelf life. It is of great practical significance to price different products based on market research in order to maximize the benefits of supermarkets. The aim of this paper is to investigate and address the pricing decision question of vegetable products in fresh food supermarkets. This article investigates the correlation between cost-based pricing and sales revenue by establishing linear regression models and time series models.In addition, we have also made price predictions for various categories of products in the supermarket. Finally, this article provides pricing decisions for various categories in the first week of July 2023 for the supermarket.