Christmas may be two months away, but consumers alarmed by the news of supply chain disruptions have already started planning their holiday shopping.
According to a new consumer study released by Oracle, 52% of Americans have either started their holiday shopping or plan to shop earlier than usual.
Of those polled, 20% plan to order more gifts in case some are delayed or canceled, while 34% said they will buy more gift cards this year.
Additionally, 28% of those surveyed said they were concerned that the products they wanted to buy would be more expensive due to scarcity, while 27% were concerned that their desired products might not be available.
Mike Webster, senior vice president and general manager of Oracle Retail, has warned retailers to prepare for consumer disappointment or worse in the event that popular merchandise is not available.
“Responsibility will be the name of the game,” he said. “Retailers need to have clear visibility into their inventory, a realistic timeline for execution, and a plan to communicate clearly throughout the ordering and delivery processes. Through transparency and execution, retailers can earn the trust of their customers and create the potential for future loyalty. “
And consumer dissatisfaction is already on the record – the Oracle survey found that 40% of those polled said that items out of stock were a lousy shopping experience, with 22% saying they wouldn’t wait for it. a retailer is restocking before going elsewhere.