Using real-world empirical data from one of Germany’s fastest growing online retailer, we investigate the impact of weather on online retail sales. We show that there are significant weather effects in both the Order and Item Levels Time Series. Bad weather is usually associated with higher sales on a given day. While the day-over-day weather effect is modest it can be substantial on a weekly basis with order variability reaching up to 15% attributable to weather effects. We discuss forecast improvement potentials due to incorporation of weather parameters into the econometric model. Finally, applications of weather enhanced forecasting models are discussed.
co-authored with Prof. Kai Hoberg
About the Presenter
Sebastian Steinker is a PhD candidate in the field of Supply Chain Management at the Kühne Logistics University. Before joining the KLU in September 2012 he started his Ph.D. studies at the Cologne Graduate School in Management, Economics and Social Sciences in October 2011.
His research at the KLU focuses on application of statistics and empirical methods in the field of Operations and Supply Chain Management. He could already present his work at the OR 2011 conference at the ETH Zurich, Switzerland and the MSOM 2012 conference at the Columbia Business School in New York, USA.
more info about Sebastian Steinker
About the Seminar
The KLU research seminar series is a regular meeting of PhD students, Post-Docs and professors who conduct research in the field of logistics and supply chain management. The research seminar is open to the public and we happily welcome guests.