What is Seasonality?
Seasonality- a term used in various fields to refer to the phenomenon where certain patterns and behaviors tend to recur at specific times of the year. This concept is not limited only to weather or nature, but can also be observed in economics, marketing, and other areas.
In economics, seasonality refers to the predictable fluctuations in economic activity that occur within a year. For example, retail sales typically increase during the holiday season towards the end of each year. On the other hand, seasonal unemployment can occur in industries such as construction or agriculture due to changing weather conditions.
In marketing and business, seasonality refers to trends that businesses experience throughout different times of the year. For instance, ice cream sales may spike during summer months while cold medicine purchases may surge during winter months. Understanding these seasonal trends can help businesses adjust their strategies accordingly.