Ever wondered how weather can impact your retail sales?
Erratic and unpredictable rains are not uncommon today. A depression over the Bay of Bengal causes heavy rains in states like Odisha and West Bengal with the potential to slow down and disrupt daily operations.
The weather can impact your business in ways that you may not be considering, and preparation is critical. A change in the forecast - whether abrupt or expected - could lead to your sales taking a hit.
Planning ahead of time with weather data and insights can help minimize the risk associated with weather on your business.
Stores must be able to predict these shifts prior to the weather change to fully anticipate the customers’ wants, satisfy their retail needs, and maximize profits while reducing the occurrence of over- and under-stocking.
Unseasonal weather events can severely affect the supply chain from production, distribution and promotion. Retailers need to act fast to make decisions about distribution, store and warehouse staffing based on predicted demand.
Changes in weather also affect consumer buying behaviour. 60% of shoppers change their shopping patterns when it’s raining or there is scorching heat outside. Equipped with weather insights, retailers can make better decisions around inventory management, pricing and promotions.
Integrating weather data to create a plan to overcome potential hurdles is a great way to gain customer satisfaction. Minimizing risks associated with weather poses a challenge because of the unknown variables you could end up facing, but it’s imperative to have a plan for any potential scenario.
Creating unique and engaging experiences for your clients goes a long way in keeping your brand healthy and wanting consumers to come back for more.
When armed with weather data, retailers make better business decisions to transform the customer experience.
For example, a leading hair care manufacturer needed to drive sales growth by tailoring marketing messages based on local weather conditions and anticipated customer responses. Weather data was paired with the exact location and climate of a customer, allowing for highly targeted advertising. As a result, consumers were able to see product ads most relevant to the current weather condition at a zip-code level.
The advantages of using accurate weather insights for retail organizations lie in their ability to turn forecasts into actions that address essential aspects of their business. It ranges from customers’ emotional states during a storm to supply chain modifications amid a heatwave, inventory and operations shifts during an extended period of rain. Retailers who capitalize on weather driven insights can see a significant boost and long-term profitability.
The Weather Company offers solutions for retail that go above and beyond unseasonal weather.