Over 45% Of Consumers Declare That Out-Of-Stock Items Impact Their Future Purchasing Behaviors
Conjura survey highlights eCommerce trends and provides key insights for brands who wish to remain tuned into their consumers’ ever-evolving needs
According to a survey published by Conjura, the leading eCommerce data analytics company, over 45% of consumers across all age groups claim that an out-of-stock item impacts their future purchasing behaviors and will incline them to move on to another brand. This percentage rises with younger consumers: impacting 53% of Gen Z consumers in the UK. Having a well-managed stock inventory and providing the variety of products today’s NOW generation consumers demand is crucial to maintaining long-term brand loyalty. Conjura’s report, based on a survey of 2000 consumers across the US, UK, and Ireland, shows what eCommerce brands need to do to meet consumers’ expectations across a range of issues ranging from stock management and shipping fees to brand loyalty and speed of delivery.
“The results of the survey reflect what we are seeing in the data world. More companies are concentrating on optimizing supply chain and fulfillment through the use of data than ever before. It’s no longer enough for eCommerce brands to share their products online and then sit back and passively wait for the results. Brands’ strategies must ebb and flow with evolving retail trends and consumer behavior and feedback,” said the Co-founder & CEO of Conjura, Fran Quilty. “ To remain competitive in this fast-changing sector, eCommerce companies need to understand how all areas of their business from supply chain and on-demand deliveries to customer experiences and online journeys all fuse together to impact consumers and their shopping behaviors so that they can adapt accordingly to optimize their offering.”
Key findings include:
– Our peers have more influence than ‘influencers’: Consumers are more than 3x as likely to rely on customer reviews as opposed to influencer reviews when making purchasing decisions across the US, UK, and Ireland. (In the UK, consumers are about 4x as likely to rely on customer reviews as opposed to influencer reviews when making purchasing decisions).
– The rising importance of quick and impeccable shipping: Over 27% of Gen Z and over 32% of Millennials think that quick shipping will significantly impact their repurchase likelihood. Over 55% of consumers in the US, UK, and Ireland combined are unlikely to purchase from a fashion brand again if they failed to dispatch or deliver their order on time. This is only true for approximately 46% of Gen Z consumers.
– High shipping fees are the greatest deterrents for consumers: Over 40% of consumers are unlikely to make a purchase when the brand charges high shipping fees.
– Consumers are protecting their pockets first and foremost: Over 55% of consumers in the US, UK, and Ireland are more encouraged to purchase items when they are on sale.
– Gen Z and Millennials still plan to purchase more from retail stores vs. online stores this summer: Close to 30% of US consumers claim that they’re unlikely to buy online over in-store this summer. Over 27% of Gen Z and Millennials across the world claim that they’re more likely to buy in-store vs. online this summer.
– Consumers are not married to any particular brand: In the US and UK, over 30% of consumers intend to shop at new brands, not just familiar brands, this summer. Across the US, UK, and Ireland, over 20% of consumers are unlikely to buy familiar brands in favor of new brands. The same is true when you look specifically at Gen Z, Millennials, and Baby Boomers.