Most consumers are well aware of supply chain issues plaguing stores, which make it more difficult to obtain certain items. But a new study from Oracle found that Americans fear long-lasting affects from supply chain disruptions and want transparency from their favorite retailers and brands regarding the situation.
Gone are the days when you could run into a grocery store or favorite soft goods retailer and find the exact items you want without a second thought. Today, 44% of people report feeling stress or anxiety while shopping due to not being able to find the items they need, and 62% are fearful that out-of-stock items will disrupt their future plans. In fact, 82% of people foresee supply change disruptions, as a whole, ruining future birthdays, holidays or trips.
Amid all this doubt, most people don’t see positive changes on the horizon, either. Ninety-two percent of those polled said they believe more disruptions are coming, and 66% think these challenges might never end. While people understand the reasoning behind the issues, 80% of consumers said that shortages and delays could force them to cut ties with their favorite brands.
With so much anger, anxiousness and frustration tied to supply chain issues, what consumers really want is more transparency from their favorite brands. Sixty-three percent of consumers polled said they want “more regular updates” on shipping status, while 59% said they want more transparency on inventory available and 54% said they want to know about potential supply chain issues.
Consumers also want brands to put money behind their words. In the survey, 56% of people said they wanted discounts if their items were delayed or cancelled, and 52% said they would be happy with discounts for delayed purchases.
Consumers are willing to adapt to supply chain issues in several ways. The survey showed 91% of people plan to change their buying behavior to ensure they have the items they need. The most common adaptations include:
- Buying in bulk and stocking up on items (49%)
- Purchasing gifts earlier to accommodate delays (45%)
- Paying closer attention to shortages of staple items in their household (40%)
With the major holidays on the horizon, shoppers should plan for delays by starting their shopping early, consider online buy-sell-trade groups for some hard-to-get items and make contingency plans if a gift is not available.
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Last updated: October 12, 2021