Planalytics Inc. has partnered with The NPD Group to provide consumer-focused businesses with valuable insights into how the weather affects demand for specific products. Planalytics can now apply its weather impact modeling technologies to NPDs point-of-sale (POS) data from retailers to provide companies with much-needed visibility into how a key critical external variable influences sales.
Through this partnership, customers who purchase NPD data can access Planalytics Weather-Driven Demand (WDD) analytics to understand how changes in the conditions outside impact the sales of specific products on a week-by-week basis by regions or markets. These WDD metrics precisely calculate how sales have been or will be affected in apparel, footwear, accessories, sporting goods, automotive, beauty, toys, home, and other weather-sensitive segments.
Combining NPD data with weather insights will enable customers to more proactively manage weather-based sales volatility in their business and capture both top-line and bottom-line benefits as a result, said Antoine Verrier, Vice President of Corporate Business Development at The NPD Group.
With NPD data-based WDD analytics, retailers and consumer goods suppliers can more clearly understand performance from a weather-adjusted viewpoint. For example, the evaluation of sales results across regions, advertising effectiveness, and promotional programs all benefit from a weather corrected perspective in which the positive and negative weather effects are isolated and quantified. From a forward-looking standpoint, companies can utilize weather analytics to better align inventories and businesses resources with projected consumer demand changes. Planalytics helps improve planning accuracy by accounting for weather biases embedded in sales histories, with gains of 20% or more typical for many weather-sensitive products.
Working together with NPD offers an exciting opportunity to bring valuable insights to leading retail and consumer brands, many whom rely on NPDs data assets and expertise, said Evan Gold, Executive VP, Global Partnerships & Alliances at Planalytics. These companies know that weather volatility will always play a part in their sales performance and together we allow them measure and more effectively manage this reality.
NPD offers data, industry expertise, and prescriptive analytics to help our clients grow their businesses in a changing world. Over 2000 companies worldwide rely on us to help them measure, predict, and improve performance across all channels, including brick-and-mortar and e-commerce. We have offices in 27 cities worldwide, with operations spanning the Americas, Europe, and APAC. Practice areas include apparel, appliances, automotive, beauty, books, B2B technology, consumer technology, e-commerce, fashion accessories, food consumption, foodservice, footwear, home, juvenile products, media entertainment, mobile, office supplies, retail, sports, toys, travel retail, games, and watches / jewelry. For more information, visit npd.com. Follow us on Twitter: @npdgroup.
Planalytics, Inc. (www.planalytics.com) is the global leader in Business Weather Intelligence. Through advanced weather analysis technologies, planning, optimization solutions, and industry-specific expertise, Planalytics helps companies accurately assess and measure weather-driven impacts and effectively manage the never-ending variability of climate. Leading retailers, consumer goods suppliers, restaurants, and service companies use Planalytics to weatherize their business, taking advantage of opportunities to increase revenue while deploying strategies to reduce costs and protect margins during periods of risk.