Using financial data to make better business decisions
With peak season behind you, new products from the summer markets and Cultivate still fresh in mind, August is the ideal time to prepare for the next growing and buying cycle. By reviewing forecasting, profitability, trends and customer data, retailers can build a strong plan for the season ahead.
As retailers begin making key plant and product decisions that will influence their 2027 performance, AmericanHort has the resources to help retailers guide their annual planning. Here’s how financial data can help you level up your business decision-making using numbers, not assumptions.
Forecasting the Future
Forecasting is one of the most valuable applications of financial analysis. By combining historical performance with current market trends and business goals, retailers can build plans that are both realistic and adaptable.
This approach becomes especially important in an industry where weather, consumer confidence and shifting trends can influence demand from season to season. Financial forecasting is a daunting task, but it has the power to reduce uncertainty and provide a framework for strategy adjustments when conditions change.
Doniz Dos Santos, inventory control supervisor for Mahoney’s Garden Center in Woburn, Massachusetts, attended the AmericanHort webinars “Financial Literacy for Horticulture Managers” and “Creating Health and Wealth in Business and Life.”
Santos said, “I wanted to learn about finances to see how I can turn data overload into something useful so overall the company can be more successful. It gave me a starting point to put a good report together on what we could look at and start to make data-driven decisions.”
Understanding the Numbers
Once retailers see the power that financial data has to move future sales, the next step is to use the knowledge the data gives you to shape the customer experience. Financial data can help retailers identify their most profitable categories, align inventory with demand and understand which departments contribute most to profitability.
In March, Jake Scott, general manager at Piedmont Feed and Garden Center in Chapel Hill, North Carolina, participated in AmericanHort’s “Open Book Management for an Ownership Mindset,” a three-part Mastery Series on building a culture of financial literacy, accountability and engagement within a business. Being in the throes of spring, Scott implemented sales goals aimed at increasing average ticket sales and reducing shrink through targeted customer messaging.
“All our staff are now more conscious of average ticket and how the number of items and even inflation can affect this number, which then affects our business as a whole,” he said.
Building Confidence Through Financial Literacy
For many retailers, the challenge is knowing how to interpret and apply forecasting data. That’s where industry-specific education can make a meaningful difference.
“AmericanHort provides valuable resources and education to help retailers make informed business decisions,” said Meagan Nace, senior program manager for AmericanHort’s education department. “These resources help retailers connect forecasting, trends, profitability, customer engagement, store design and merchandising into a business strategy aimed at making your business stronger.”
AmericanHort’s Cultivate’26 On-Demand library includes sessions that are relevant to the topic of using financial data to prepare for 2027, including:
- “Basic Financials for Garden Retailers: What Every Manager Needs to Know,” designed to demystify financial basics.
- “Business 101: Understanding Your Financials and KPIs,” a foundational overview of financial statements and how these connect to day-to-day operations.
- “The 2027 Garden Trends Report,” helping garden retailers connect consumer behavior to products and services.
AmericanHort will add additional programming to help retailers gain confidence in planning and decision making. Watch for an All-Industry Roundtable, “From Planning to Execution” and “The Science & Art of Buying” added to the Mastery Series.
Find more resources at americanhort.org/education.
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