Supply chain concerns remain, but consumers are slowing holiday shopping

0

AUSTIN, Texas, 22 November 2021 / PRNewswire / – A new survey from Oracle Retail shows consumers barely made a dent in their holiday shopping. While a September poll1 showed that 52% of Americans had already started holiday shopping or planned to shop earlier than usual, when asked again last week, 66% said they had done less than usual half of their holiday shopping. That could mean big buying increases for retailers heading into Thanksgiving and Black Friday.

Consumers are also concerned about the supply chain and climate issues when it comes to Christmas trees. Twenty-two percent fear trees will be harder to find and more expensive, with the number rising to 27 percent in the San Francisco Bay Area, which has been hit hard this year by drought and fires.

“The latest figures continue to highlight the unpredictability of consumers in these interesting times,” said Mike webster, senior vice president and general manager of Oracle Retail. “Despite supply chain concerns, many people have a long way to go with their holiday shopping. Retailers need to be prepared for next month’s hike and carefully manage inventory and expectations with high transparency and communications to keep customers happy and coming back. “

The survey of 2,085 Americans in new York, Chicago, Dallas, and San Francisco was managed by Untold Insights November 11-16, 2021. Respondents were asked to reflect on their Thanksgiving travel plans. Unpack the full report at: https://www.oracle.com/industries/retail/consumer-research/.

Consumers Didn’t Make a Hole in Holiday Shopping
When asked how many of their holiday purchases are complete:

  • 30% said none to very little
  • 35% did a quarter or less of their shopping
  • 13% are half done
  • 9% are three quarters complete
  • 5% are completed
  • 7% don’t plan to shop this year

Supply chain causes mixed shopping experience
When asked how their online and in-store shopping experiences have been so far this season:

  • 18% said supply chain issues lead to higher prices
  • 16% said supply chain issues resulted in stockouts and hard-to-find items
  • 15% said the aisles did not appear as full as usual this time a year
  • 12% noted that stores are understaffed
  • 9% said they had already had delayed deliveries

Access to offers remains a draw
When asked what they would do to get early or enhanced access to vacation deals:

  • 17% said they would pay a one-time fee for early access
  • 35% would buy an annual subscription (like Amazon Prime) (46% for Millennials)
  • 19% would line up early for Black Friday or other in-store holidays (37% for Gen Z)
  • 39% buy in person for in-store offers only (42% for GenZ)

See how Oracle is helping fashion, grocery and specialty retailers anticipate market changes, simplify operations, and inspire authentic interactions with brands at www.oracle.com/retail.

1. The Untold Insights survey interviewed 5,728 global consumers, including 512 in United States, in September 2021 about their holiday shopping plans.
2. Gen Z (18-24); Millennials (25-39); Generation X (40-54); Baby boomers (55+)

About Oracle
Oracle offers integrated application suites as well as secure, stand-alone infrastructure in Oracle Cloud. For more information on Oracle (NYSE: ORCL), please visit us at oracle.com.

Brands
Oracle, Java, and MySQL are registered trademarks of Oracle Corporation. Other names may be trademarks of their respective owners.

SOURCE Oracle


Source link

Share.

Comments are closed.