This recent webcast presented by Evan Gold, EVP of Partnerships & Alliances at Planalytics, provides a summary of the summer season and an outlook for fall. For this update, Planalytics weather-driven demand metrics leveraged source data from NIQ, the largest consumer intelligence provider in the world.
By measuring the impact of weather, businesses can proactively manage it and ultimately quantify the benefits. It is common for companies using Planalytics’ predictive weather-driven demand analytics to optimize inventory and drive sales to improve net income up to 6% each year.
Although headlines have reported how hot the summer was from a global perspective, in the U.S. the summer season was actually the coolest in four years and it was wetter than last year. But even that doesn’t tell the story, you need to look at the time and locations to understand the specific impact. For example, in July, the cooler and wetter conditions limited demand for some need-based categories like air conditioners as well as consumables like sunscreen and bottled water. However, there were regional opportunities. More insights for all of the core summer months are included in the webinar.
In September, one of the most weather-sensitive months, smaller changes in the weather drive large changes in demand. Those changes can be either positive or negative, and it varies by sector or channel, as well as by category. Compared against 2022, which was the warmest in over 60 years, businesses can anticipate cooler conditions in the West which will help demand for early fall categories like soup and firewood, as well as a hand and body lotion.
The webcast also features a case study of a sports drink company that proactively moved inventory to the retail customer locations in advance of a major heatwave. When the sales spiked, the supplier received praise from a retailer for having over 99% in stock ratings when their competitors didn’t.
View the replay of the 2023 Summer Recap and Fall Outlook, Weather-Driven Demand Insights powered by NIQ.