Summer falls into autumn, and winter’s close behind. As the seasons change, businesses need to be taking note. Seasonal changes can impact and should correlate with the changes in purchasing habits for a business’s customers, or they can suffer.
Individuals are more likely to purchase certain products or access certain services more than others in different seasons or times throughout the year.
For example, hot cross buns are more likely to be sold during Easter and the month/s preceding it – but are unlikely to be a featured product that does well during November. Warm winter wear is unlikely to sell during warmer months because there is little need for it, and customers are not likely to buy those types of products.
There are many factors that can affect seasonal purchasing, and businesses should identify which factors are more relevant to their business:
- A change of season: the type of weather in the season (sun, snow, rain etc), what products are primarily needed, how often people visit certain locations during those seasons.
- Holiday season: Holiday periods result in higher purchasing and purchasing of more novelty items as opposed to need-based items (e.g. Christmas shirts)
- Seasonal jobs: Employment in certain industries, such as construction trades, changes seasonally, meaning that groups will have more money coming in during certain seasons than others.
Businesses that have products and services which might correlate more with one season than another should be particularly aware of changes in customer practices so that they can make the necessary accommodations.
Businesses that have products that are more popular during some seasons than others should be analysing data that gives insight into the increases and decreases of purchase of those products. This will allow them to increase inventory during times of demand, so as to not fall behind public demand, and decrease inventory during low-purchase periods, so as not to have unnecessary stock taking up space.
Businesses providing services that are seasonally popular should consider hiring individuals on a contract basis for the period of high demand. This will allow them to fulfil the demands rather than struggle to meet them with limited employees. Hiring on a contract basis may be more ideal since the number of employees may not be necessary during off-peak seasons.
Businesses should keep in mind that there are natural periods of transition that can be reflected in their seasonal changes to their products and to reflect the needs of their customers.