Research on Apparel Retail Sales Forecasting Based on xDeepFM-LSTM Combined Forecasting Model

Abstract

Accurate sales forecasting can provide a scientific basis for the management decisions of enterprises. We proposed the xDeepFM-LSTM combined forecasting model for the characteristics of sales data of apparel retail enterprises. We first used the Extreme Deep Factorization Machine (xDeepFM) model to explore the correlation between the sales influencing features as much as possible, and then modeled the sales prediction. Next, we used the Long Short-Term Memory (LSTM) model for residual correction to improve the accuracy of the prediction model. We then designed and implemented comparison experiments between the combined xDeepFM-LSTM forecasting model and other forecasting models. The experimental results show that the forecasting performance of xDeepFM-LSTM is significantly better than other forecasting models. Compared with the xDeepFM forecasting model, the combined forecasting model has a higher optimization rate, which provides a scientific basis for apparel companies to make adjustments to adjust their demand plans.