Fall back spring forward, daylight savings time is upon us once again, and that means our bodies are forced to adapt to new sleeping and waking times.
Daylight saving time adjustment has been shown to affect our health, both mental and physical, and even our financial choices. For instance: daylight savings time changes increase the risk of a vehicular accident due to reduced cognitive capacities, and our tired minds influence our emotions and our purchasing behavior.
Having additional sunlight also creates more opportunities for individuals to spend time outdoors, awake and socializing. In dark times, individuals are more likely to be indoors, less social, and feel more tired. Waking up when it is dark, and also returning home to darkness is fatiguing and depressing; there’s a disorder of these behaviors called Season Affective Disorder or SAD; which is counteracted by bright therapy lamps and vitamin D to reduce these symptoms.
Comparatively, when the sun is out, even for an extra hour; business can jump on this opportunity to promote happy hours, evening events, and social events to attract individuals who are now more awake, and willing to engage in the activity. Store owners and other retailers benefit from the extra daylight hours as there is an extension of time between the workday and bedtime, for both adults and children; offering more shopping and leisure activity time. Think of the long day of summer when you are feeling invigorated from the 12 hour days of strong sunshine, you feel better and are more active to engage in activities; including spending money. A 2008 study by Aries and Newsham revealed a spending increase of 3% on leisure activities across the entire European Union.
Businesses can capitalize on the extended daylight hours by increasing their afternoon and evening opening times, offering additional services in the evening in comparison to the daytime or morning. As well, spring and summer discounted rates could encourage buyers to purchase their services or products (e.g., vacation rentals, gardening services) , as the elevated mood from the additional sunlight could sway their decision.
Lastly, targeting leisure activity places, outdoor parks, baseball diamonds, beaches for marketing efforts, pop up shops, or being a sponsor for a large outdoor event, is a great opportunity to showcase your company to individuals who are just getting out of their winter hibernation.
Unfortunately, here in North America it is still February and we are still a few weeks away until daylight savings time is pushed forward one hour; but until then, keep it light :slightly_smiling_face: