December 10, 2015

6p in every £1 spent in the grocery sector is dependent on the weather

The impact of weather on day-to-day business decisions and purchasing patterns is largely ignored, writes Ross Webster, managing director, international sales at The Weather Channel.

Weather patterns are changing. More periods of abnormal weather, such as long periods of hot, cold or wet weather, and an increase in the frequency of severe weather, such as snow storms or flooding, are taking place.

Unseasonal weather can have an enormous impact on UK businesses, just as much as extreme weather events. For many sectors of the economy, the impact of unexpected weather can be huge.

So why is the impact of weather ignored in the UK? As an economic variable, weather fluctuates too much and is too unpredictable in the medium-to long-term to be built into most economic models. The marginal impact of extreme events is also seen as being difficult to measure and separate from other economic phenomena.

Click here to read the full article from Talking Retail!