When weather makes biz stories
Feel like you’ve been trapped inside your laptop all summer? Grab an umbrella or an ice pack, as the case may be, and head for the door.
As Hurricane Bill whirls his way toward the Atlantic coast, heat waves roast the northwest, thunderstorms pound the central states and autumn looms for all of us, it’s not a bad time to get out and explore the financial effects of weather.
Clearly weather affects consumer behavior at the retail level and can make or break a season for firms ranging from mom & pop hardware stores to giant theme parks, from truckers to fashion buyers. Think ski resorts, fisheries, campgrounds, wineries, race tracks, souvenir shops and the person trying to figure out how many snow boots to order for Sears.
From a personal finance angle, how are your readers affected? Higher utility costs, flood insurance, repair and mitigation services can strain pocketbooks regionwide when Mother Nature misbehaves.
While some are hurt by weather anomalies, others reap. Resort operators may cringe at the approach of a storm, but who wouldn’t like to be a plywood purveyor in the path of a hurricane, or an air-conditioned theater on a 100-degree day?
If you’re undergoing a few days of volatile climate conditions, spin a local business story or two. Aside from the short-term scenarios just mentioned, it’s a good opportunity to speak with local industries about their longer-term meteorological strategies, logistics and risk management planning. You can spice up print and online packages with weather maps, explanatory graphics and climate lore unique to your area.
Helpful resources, aside from your local National Weather Service bureau, include this National Oceanic and Atmospheric Administration economics page, which explains weather’s economic impact on a variety of business and industry sectors.
Manufacturers, utilities, retailers, health-care concerns – all of the big employers in your area have an eye on the barometer at some level in their operations. Find the person in charge before an emergency strikes; you’ll generate a good biz feature now and an invaluable entry in your contacts file should a major weather emergency strike your turf.
An article last summer in The Wall Street Journal, for example, detailed Wal-Mart Inc.’s emergency preparedness plan – one aimed not just at protecting corporate property offering Wal-Mart stores as community shelters – in anticipation of Hurricane Gustav. Who knew that the massive retailer keeps an in-house meteorologist on staff?
Other businesses use third-party “industrial meteorology” services, like Alabama-based AWIS, www.awis.com which can advise corporate clients using proprietary analysis like its Livestock Heat Index. The American Meteorological Society, a professional organization, also maintains a committee that studies the societal impact of weather; its panel members are worth investigating for expertise or advice in your area.
Come back to Your Daily Tipsheet each morning for advice on where to find sources, background and creative ways to make financial news and trends relevant to your audience.
As Hurricane Bill whirls his way toward the Atlantic coast, heat waves roast the northwest, thunderstorms pound the central states and autumn looms for all of us, it’s not a bad time to get out and explore the financial effects of weather.
Clearly weather affects consumer behavior at the retail level and can make or break a season for firms ranging from mom & pop hardware stores to giant theme parks, from truckers to fashion buyers. Think ski resorts, fisheries, campgrounds, wineries, race tracks, souvenir shops and the person trying to figure out how many snow boots to order for Sears.
From a personal finance angle, how are your readers affected? Higher utility costs, flood insurance, repair and mitigation services can strain pocketbooks regionwide when Mother Nature misbehaves.
While some are hurt by weather anomalies, others reap. Resort operators may cringe at the approach of a storm, but who wouldn’t like to be a plywood purveyor in the path of a hurricane, or an air-conditioned theater on a 100-degree day?
If you’re undergoing a few days of volatile climate conditions, spin a local business story or two. Aside from the short-term scenarios just mentioned, it’s a good opportunity to speak with local industries about their longer-term meteorological strategies, logistics and risk management planning. You can spice up print and online packages with weather maps, explanatory graphics and climate lore unique to your area.
Helpful resources, aside from your local National Weather Service bureau, include this National Oceanic and Atmospheric Administration economics page, which explains weather’s economic impact on a variety of business and industry sectors.
Manufacturers, utilities, retailers, health-care concerns – all of the big employers in your area have an eye on the barometer at some level in their operations. Find the person in charge before an emergency strikes; you’ll generate a good biz feature now and an invaluable entry in your contacts file should a major weather emergency strike your turf.
An article last summer in The Wall Street Journal, for example, detailed Wal-Mart Inc.’s emergency preparedness plan – one aimed not just at protecting corporate property offering Wal-Mart stores as community shelters – in anticipation of Hurricane Gustav. Who knew that the massive retailer keeps an in-house meteorologist on staff?
Other businesses use third-party “industrial meteorology” services, like Alabama-based AWIS, www.awis.com which can advise corporate clients using proprietary analysis like its Livestock Heat Index. The American Meteorological Society, a professional organization, also maintains a committee that studies the societal impact of weather; its panel members are worth investigating for expertise or advice in your area.
Come back to Your Daily Tipsheet each morning for advice on where to find sources, background and creative ways to make financial news and trends relevant to your audience.
Labels: consumer goods, livestock, NOAA, retail, weather
posted by Melissa Preddy
at
4:16 PM
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