The following article is part of a three-part series: A Profitable Weather Strategy: Why YOU Should Care.
Forrester estimates that 86% of retail purchases still happen in brick and mortar stores. Despite popular belief, traditional retail is not dead, however, it is evolving. In order for brick-and-mortars to stay ahead of the curve, they must stay ahead of trends – from who their customer truly is, to where they’re shopping and what they’re buying.
To understand purchase behaviors, it’s important to understand that weather plays a vital role. A digital consulting firm, representing a major retailer, did just that by exploring their own data to see how their customers respond to weather patterns.
The firm enriched the retailer’s transaction data with recent weather impact to look for patterns that suggest some products are more desirable than others with respect to current weather conditions or major fluctuations in weather. After identifying two products that are significantly more desirable when the weather rapidly changes from hot to cold, and another product that is significantly more desirable while it’s raining, the firm develops a marketing strategy that promotes these products when they best align with buyer behavior.
By understanding the impact of weather on customers, the firm has been able to deliver highly targeted, highly relevant marketing campaigns in real-time. The result: over 20% growth in the business, resulting in a total of $2.3M uptick in revenue.
At Pitney Bowes, our mission is to turn dynamic weather information into usable weather data in real-time. We can’t control the weather, but we believe we can control its impact on business outcomes.
If your business warrants critical decisions before, during, or after significant weather events, let us eliminate the guess work and help you create your own success story.
Begin exploring our data today.