Managing Weather’s Sales Impacts & Hidden Costs
Thursday, August 27th, 2015
Time: 08:30 AM - 10:30 AM
LOCATION: St. Pancras Renaissance London Hotel (Euston Rd, London NW1 2AR)
*There is no cost to attend, but registration is required (form below)
Weather conditions are constantly influencing the decisions consumers make – from what they choose to wear to what they eat and drink; from the leisure activities they pursue to the projects and chores they decide to accomplish. No other external variable is as volatile or can shift consumer buying behavior as frequently, directly, immediately, or meaningfully as the weather.
THE HIDDEN COSTS OF WEATHER: Businesses that ignore the weather unintentionally penalise themselves – year after year – when they build demand forecasts and business plans. When using last year as a basis for planning and weather’s volatility is ignored or left unadjusted, companies are essentially assuming conditions will be the same from one year to the next. This rarely happens. In fact, the weather and its impact on sales only repeats itself year-to-year about 15% of the time. This all-too-common occurrence generates higher forecast error rates and invariably leads to business plans that are not aligned with demand. This misalignment leads to lost sales in some markets, excessive inventory in other markets, unnecessary costs, and operational inefficiencies.
The good news is that weather’s business impacts can be quantified and managed. “Weatherised” companies are able to identify and recapture the revenues and profits weather volatility steals from the business each year. Learn more by joining Planalytics in London on Thursday, 27 August for our breakfast seminar.
Seminar Topics Include:
- The Weather “Blind Spot” and Its Bottom Line Impact: The weather is a huge “blind spot” for most companies and it is not just the future forecasts. Last year’s weather is part of last year’s performance and a failure to recognise and effectively remove the weather-driven variability from historical sales leads to misaligned inventories and operational resources and reduced profitability.
- Measuring & Managing Weather-Driven Demand: Quantifying weather’s impact by category, by market and by time period and applying it in demand forecasting, allocation/replenishment, operations, pricing, sales analysis, etc.
- WeatherSmart Marketing & Advertising: Optimise customer engagement strategies and improve response rates by identifying favorable periods for email campaigns, digital advertising and other marketing activities.
- Client Case Study Examples: Hear how companies have benefited by “weatherising” their business and using weather-driven demand insights for planning and in-season decisions.
- Weather Impact Outlook: A look at weather-driven opportunities and risks including the upcoming autumn season.
There is no cost to attend, but space is limited and registration is required. Please complete the form below to request your seat.