Retailers Turn to Weather Data to Boost Sales and Reach Customers
Retailers are turning to weather data to boost sales and reach customers. A collaboration between the National Retail Federation and Planalytics, WeatherIQ™, provides weekly weather impact outlooks to help retailers plan effectively.
Weather volatility can significantly impact retail sales. Globally, about $1 trillion of annual retail sales are directly influenced by weather conditions. To mitigate this, small retailers are advised to prepare strategies based on forecasts and weather patterns. This can help them reach customers effectively and encourage purchases.
WeatherIQ™, a joint venture between the National Retail Federation and Planalytics, offers weekly weather impact outlooks for specific product categories or retail segments. These outlooks compare expected weather conditions with the prior year, helping retailers tailor their marketing efforts and product offerings. By employing these strategies, retailers can attract customers and boost sales.
Small retailers should plan for weather impacts in the long term, considering seasonal trends and weather anomalies. Using sales data and ecommerce analytics can help them understand the weather's impact on their business and tailor offerings to customers based on their location and local climate. By doing so, retailers can better prepare for weather volatility and make the most of favourable conditions.
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