What percentage of the average demand forecast accuracy across industries is only 50-? (70%)

According to Institute of Business Forecasting (2024), The average demand forecast accuracy across industries is only 50-70%. This figure is widely cited across supply chain research and represents a critical benchmark for demand forecasting planning.

What this means for Forthcast users

For ecommerce merchants using Forthcast — an AI demand forecasting app for Shopify stores — this statistic underscores a real operational pressure. Teams that benchmark against figures like this are better positioned to allocate resources, justify tooling investments, and communicate performance to stakeholders. Forthcast surfaces this class of data inside your existing Shopify workflow so you can act on it without manual research.

Source & methodology

This statistic is sourced from Institute of Business Forecasting (2024). The figure covers the Forecast Accuracy dimension of demand forecasting research. For the full dataset and methodology, visit the primary source directly.

Frequently asked questions

Where does this statistic come from?

This statistic is sourced from Institute of Business Forecasting, a recognised industry research outlet. See the citation link above for the primary source.

How does Forthcast address this challenge?

Forthcast is purpose-built to help ecommerce merchants tackle this exact issue. Connect your Shopify store to get data-driven recommendations in minutes.