I am looking at a demand forecasting tool which is considered an industry standard in the retail domain, and it offers several forecasting methods, most of which are some variation of Exponential Smoothing. It doesn't offer (or even mention) ARIMA at all, which surprises me, given how important ARIMA seems to be, based on the literature.
Is there any reason why they would go with Exponential Smoothing over ARIMA? Is Exponential Smoothing better for demand forecasting than ARIMA? Or is it the case that most useful ARIMA models can be re-cast as Exponential Smoothing models?
Since I first posted this question, I came across the following paper "Why the Damped Trend works" by Gardner and McKenzie in which the authors argue (also see the references within) to the effect that exponential smoothing with damped trend can “reasonably claim to be a benchmark forecasting method for all others to beat.”