Predictive Weather-Driven Demand Analytics Is the Secret Ingredient Enabling Retailers to Succeed in Uncertain Times
There are many external variables influencing businesses and consumers today.
Recently, we’ve heard a lot about volatile supply chains, delayed product shipments, fluctuating inventory levels, inflationary pressures, and rising prices. In addition, retailers continue to be understaffed. Each of these individual variables denote business disruptions, distractions, and challenges for businesses who are looking to meet customer demand and achieve service level targets.
These are just some of the macro-environmental ‘unknowns’ that are impacting retailers and consumers.
Yet one of the most volatile external variables that impacts consumer purchasing decisions and overall retail sales is also one of the least analyzed: the weather.
No other external variable can influence your sales as frequently, immediately, or meaningfully as the weather. Because weather is always changing, retailers are tasked with addressing constant shifts in shopping patterns, as well as demand for specific products and services. Fortunately, for retailers, the impact of the weather on consumer purchasing is NOT an unknown — it is known, and can be unlocked through predictive demand analytics. Understanding and measuring the impact of weather is the first step. Once measured, it can quickly be implemented at scale across the entire business to drive improved results across systems integration, people, and processes.
In today’s environment, successful retailers are consistently evaluating activities that can improve customer loyalty and enhance the shopping experience. Predictive weather driven demand analytics are an enabler to quickly realize these benefits at scale. Planalytics and SGG + Associates partner together to leverage the power of predictive demand analytics to help retailers and brands proactively manage weather volatility and improve profitability.