Global consumers changing shopping habits over supply chain worries
By our News Team | 2021
People are concerned there will be fewer holiday gift options on store shelves due to supply chain challenges this year.
With the Festive Season fast approaching, African shoppers and consumers worldwide may find fewer gift options available on store shelves due to product shortages and delays resulting from the pandemic-related closure of ports and factories.
According to a new global Oracle retail consumer research study, more shoppers are concerned that supply chain and delivery delays will wreak havoc on gift shopping this season, while some consumers are choosing to do their Festive shopping during Black Friday and not waiting for the traditional holiday season.
“As we see in the news, supply chain challenges are a global reality,” says Mike Webster, Senior Vice-President and GM of Oracle Retail. “That’s why consumers are panic buying so they can deliver on their loved ones’ wish lists this holiday season and avoid empty store shelves.”
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Two-thirds of consumers are worried
Oracle’s study, which polled 5 728 global consumers, shows that supply chain disruptions have left people feeling frustrated and that 66% of consumers are worried that this will ruin their holidays. As a result, 28% of consumers started their holiday shopping early, while 24% say they still plan to start their shopping earlier than usual.
Additionally, 27% of respondents are concerned that the items they plan to buy won’t be in stock, 28% are worried these items will be more expensive, and 38% fear these items will arrive later than anticipated.
With this level of uncertainty in the retail world, it’s no surprise that 34% of consumers are considering buying more gift cards this year, Oracle Retail states. Coincidentally, this is also the gift 37% of respondents said they would want to receive the most.
In addition to buying gift cards, 26% of consumers said they plan to buy more fashion apparel, home goods and electronics. Beauty products were the gift of choice for 26% of respondents, while footwear was hot on their heels for 22% of consumers.