13% of shoppers said no to substitute items when trying to complete their lists during the last Christmas trading season
13% of shoppers said no to substitute items when trying to complete their lists during the last Christmas trading season
Recent research has found 13% of shoppers abandoned plans to buy items when their preferred shop ran out of stock this Christmas.
As a result of this retailers missed out on the revenue from approximately 2.86 million shoppers, according to retail and distribution software provider, Aldata Solution.
The study of over 1,000 UK consumers found that 26% of shoppers were unable to purchase a desired item from their preferred store this Christmas indicating that many retailers struggled to accurately forecast demand and keep customers happy.
The cost of low stock
Stock levels resulted in only 2% of Brits settling for replacement items when products had run out, with only 9% of the survey stating that they were willing to turn to a rival shop to complete their list.
Mark Croxton, Aldata vice president of customer support, commented: “During peak holiday shopping periods it goes without saying that some consumers will have to settle for a substitute item as stock runs low. However, I am amazed to see that 13% of respondents decided to give up altogether.”
Dawn of the impatient shopper
The findings also revealed that it 16 to 34-year-olds were least tolerant towards poor stock levels, with 16% of respondents in this age bracket admitting that they were unwilling to accept another item or shop around. A further 14% of shoppers aged 55 and over said they would look elsewhere to complete their list.
Croxton concluded: “It is interesting to see that this next generation of shoppers is happy to go without rather than just settle for similar items. It is this attitude that will change the way retailers manage their back-end infrastructure and stock rotation policies. Retailers need to tap into this new way of thinking and adopt a back-to-basics approach to try and make stock levels consistent, especially during peak shopping times.”
