Sunny days are good for credit card spending

Merchants, we have a way to help you make more money. At JLE Business Consultants we are all about that. No we are not talking about reducing fees or providing free services. There is a much better way. Did you know that a person is more likely to not only spend more on sunny days but to also make more high end purchases on those days?

A recent study conducted by the McDonough School of Business at Georgetown University and the Columbia Business School found that sunny weather increases a consumer’s credit card spending by nearly $1,000 per year. The sunny weather it seems makes people more upbeat and impulsive so they may be more likely to go for that item they have been eyeing for some time.

Researchers analyzed credit card purchase information provided by an unnamed bank in the US and then compared the transaction data to the weather. The data showed that consumers spent about 1% more on days with above average sunshine and did not buy more things but instead went with higher ticket items. Not everyone was affected though. Younger buyers did not seem to be affected as were buyers in areas with plenty of sunshine like the South.

These findings should not be shocking. Research has already proven that the weather affects people’s spending habits. Consumers spend less when it is colder out. It is no secret as well that it is easier to sell a convertible car on a hot day and that swimming pools are more in demand in the summer than the winter. It is also not just that. Coffee consumption increases as the temperature drops and hot dog sales increase as the temperature rises.

Retailers know this and plan accordingly. While your business is probably not on par with Wal-Mart or Sears or Best Buy you too can take advantage of the weather to help increase your sales.