WORCESTER, England, February 20 /PRNewswire/ -- In the current economic climate, every retailer is looking for ways to improve efficiency and maintain profitability by grabbing a larger share of the market. Many major corporations are already using weather forecasts to aid in their business strategies, but smaller retailers may be ignoring a key to continued success in a challenging period.
It is estimated that some 10% of the British economy is weather sensitive, with billions of pounds of revenue being lost every year due to retailers not having or acting upon the correct weather information.
The benefit of using weather data as a tool when planning stock, staffing and promotions are numerous and can be felt throughout many, if not all retail sectors. The ability to pro-actively stock and promote relevant items, is just one positive effect that the use of weather forecast data can achieve.
If it is so vital, why are so many retailers not using weather to their advantage? According to Paul Michaelwaite of forecasting company Netweather.tv, there are several reasons. "Firstly, cost is often a factor, traditionally weather data has been seen as expensive and many smaller retailers cannot justify the expense. Secondly, while many retailers see the link between day to day weather and sales, without a mechanism to record this with a regular, reliable way to forecast upcoming weather, it's very difficult for them to quantify it and take it forward."
Netweather.tv have a large number of retail clients and have recently introduced new a product range which provides coverage across the spectrum of retail business sizes - from an entry level product aimed at the smaller independent retailer through too fully customised systems for the largest retail chains. Paul Michaelwaite adds, "With difficult times ahead in the economy and severe and unusual weather events looking likely to become more common, the use of weather forecasting within the retail industry is to become ever more vital during 2008 and beyond."
Notes for Editors
Established in 2003, with a hugely popular website and supplying weather forecasts and data to companies in many key sectors of industry, Netweather.tv are one of the UK's most trusted weather forecasting companies.
For further information and interviews, please contact Paul Michaelwaite on +44(0)1386-576121
For further information and interviews, please contact Paul Michaelwaite on +44(0)1386-576121 or by email - media@netweather.tv
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