Christmas might be two months away, but consumers who are alarmed by news of supply chain disruptions have already started planning their holiday shopping.
According to a new consumer research study published by Oracle, 52% of Americans have either started holiday shopping or plan to shop earlier than usual.
Of the respondents, 20% plan to order more gifts in case some are delayed or canceled, while 34% said they will buy more gift cards this year.
Furthermore, 28% of survey respondents said they were anxious that the products they wanted to purchase will be more expensive due to the scarcity, while 27% were worried their desired products will not be available.
Mike Webster, senior vice president and general manager at Oracle Retail, warned retailers to be prepared for consumer disappointment or worse in the event that popular merchandise is not available.
“Accountability will be the name of the game,” he said. “Retailers must have clear visibility into their inventory, a realistic timeline for the fulfillment, and a plan to communicate clearly throughout the order and delivery processes. Through transparency and execution, retailers can earn trust with their customers and build the potential for future loyalty.”
And consumer unhappiness is already being registered ”” the Oracle survey found 40% of respondents stating that out-of-stock items constituted a lousy shopping experience, with 22% claiming they would not wait for a retailer to restock before they go somewhere else.
