United Colors of Benetton is facing a serious problem. The company is a global fashion garment manufacturer and is well known for its speed of new product introduction. The company is planning to introduce its summer collection-2005 men's fashion wear and is interested in estimating the demand for the current year. The company had started this concept of summer collection from the year 1995 and the demands for the past years are shown below.
Suggest a suitable forecasting method that could be utilized by Benetton while predicting the demand for the upcoming year. Highlight the important factors that should be considered while selecting the forecast method.