Consumers Are Really Worried About Supply Chain Disruptions
Recent supply chain disruptions have trickled down into the psyche of shoppers. As the holiday season approaches and as headlines blare news about even more impending shortages, a new survey from Oracle shows that consumers are worried about getting what they want and are looking to retailers and brands to help ease their mind.
According to Oracle’s survey, conducted among 1,000 consumers during a COVID-19 Delta variant surge in September, while less than half of people (45%) didn’t think about the supply chain prior to the pandemic, an overwhelming 91% of respondents say they now consider how products are delivered when they make a purchase. Moreover, 92% say there will be more disruption in the future and 66% believe these issues are here to stay.
These attitudes are translating into behaviors, with an equally dominant 91% of consumers saying they will change the way they buy things, whether it means stocking up, purchasing things earlier to allow for delays or buying in bulk.
With worries so top of mind and behavioral changes already underway, the role of product providers is becoming even more important to consumers. According to the survey, 63% of people want brands to be more transparent on inventory, while 56% want refunds if items are delayed or cancelled. Seventy-eight percent of participants in this survey pool would be more willing to buy from a company if they knew it uses advanced technologies such as artificial intelligence to deal with supply chain problems, underscoring the importance of retailers’ and suppliers’ efforts to keep their part of the chain running smoothly.
“These insights paint a clear picture that the ongoing global supply chain issues are impacting many Americans,” said Jon Chorley, Oracle’s group VP of SCM product strategy and chief sustainability officer. “Ultimately, the supply chain is where brand promises are either met or broken. Organizations that are able to provide the supply chain efficiency and transparency that customers expect will be rewarded with greater customer loyalty and accelerated business growth.”
