It must be noted that the more time passes, the more extreme and frequent are weather variations phenomena. Rainy springs, hot summers or cold autumns. Companies can lose up to 20% of their turnover. So what can you do?
This article originally was published on MeteoGlobale.com on October 25th, 2017.
Indeed, spring 2017 was sullen, to say the least, in Canada and in Europe. Temperatures were low, and days were grey with precipitation beyond norms. In the last 10 years, according to the GAO (Government Accountability Office), the United States has incurred $350 billion in losses directly related to weather variations. This figure does not take into account the 2017 hurricane season which was particularly active.
In France, the gloomy spring led to a 10% turnover in several sectors. These include textiles, beverages, and hotels.
According to Jean-Louis Bertand, professor of finance in Paris:
Weather must become a problem taken into account by business leaders. There must be a change of mentality. We know today how much the economy is dependent on the weather, that it can deprive you of a large part of your revenue. It is therefore necessary that business leaders adopt a managerial attitude, that they make a longitudinal follow-up, week by week, to evaluate the financial impact on their turnover.
With this said, it’s easy to adopt the futile attitude that nothing can be done about the weather. It can’t reliably be predicted or anticipated. However, that’s just not true.
A solution on the horizon
MétéoGlobale offers solutions help you anticipate, with 95% accuracy, Mother Nature’s upheavals and minimize its impact on your business activity. Indeed, we can analyze your business activity, be it sales, distribution or human resources, and tell you how your business is weather sensitive and which factors trigger what reaction for you.
Then, by supplying you with targeted and relevant weather forecasts, based on your triggers, we accompany your business in your decision making to better manage and mitigate weather variation impacts.
Of course, you could consider insurance to cover weather-related losses. But these are additional fees, much higher than our service is, and does not solve the problem in the long run.
A partnership with MétéoGlobale can really provide a viable solution, should you be willing to accept the change. The economy is climate dependent and your business is too.
What are you doing to address this issue? Let’s talk about it!