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New Oracle survey finds UK consumers on edge over high prices, out-of-stock products, and delivery delays
More Brits turning to gift cards with 1 in 4 planning to purchase more this yearLONDON, UK—12 November 2021
As if a pandemic wasn’t enough, a new Oracle Retail consumer research study shows that shoppers are worried that supply chain and delivery delays will wreak havoc on the holidays. In response, 46% of Brits have already started holiday shopping or plan to shop earlier than usual. Of the respondents, 14% are even willing to pay more to ensure faster or guaranteed delivery, and 18% plan to order more gifts in case some are delayed or cancelled. Those numbers jump to 21% and 23%, respectively, for Millennials*. Others are taking an easier path, with 25% of people (especially Millennials at 35%) noting they will buy more gift cards this year.
“As we see in the news, the supply chain challenges are a global reality. Regardless, consumers will still measure retailers on their ability to deliver on their wish lists this holiday season,” said Mike Webster, senior vice president, and general manager, Oracle Retail. “Accountability will be the name of the game. Retailers must have clear visibility into their inventory, a realistic timeline for the fulfillment, and a plan to communicate clearly throughout the order and delivery processes. Through transparency and execution, retailers can earn trust with their customers and build the potential for future loyalty.”
The survey polled 5,728 global consumers, including 528 in the United Kingdom, in September 2021. The Untold Insights survey asked consumers about their pandemic shopping habits and plans for holiday shopping. Unwrap your complimentary copy of the report.
Gift givers are worried they will be left holding an empty box as products may not be available or will take too long to arrive:
Sixty-six percent of respondents will have gifts delivered to their home, but many are worried that shipping times won’t meet their expectations and will be late – if they arrive at all. To ease their concerns, 58% of respondents say granular tracking of delivery status is very important.
Adding insult to injury, even if the package finally gets to its destination, 22% of people fear porch pirates may steal it!
Despite the challenges, being able to get their hands on the products they want will be a critical factor in how shoppers judge retailers this season:
Despite the lure of low prices, many consumers are not willing to wait for store holidays to get what they need. Just 29% of shoppers said they would participate in Amazon Prime Day(s) and 35% would shop Black Friday sales. A smaller number (15%) say they will take partake in Cyber Monday events.
When asked what gifts they plan to buy more of this year, gift cards emerged as the top contender:
They may tell you they love the gift, but more than half of Gen Z are already planning to return it. And these return interactions raise stakes for retailers: 38% of respondents said a bad returns experience means they won’t shop with the offending retailer again. Boomers were the least forgiving, with 50% citing a bad returns experience would prevent them from shopping with a retailer again.
Consumers seem less concerned about the pandemic, with more shoppers opting to buy in-store this year:
To learn more about how Oracle Retail is helping its customers have a happy holiday season, visit: www.oracle.com/retail
*Gen Z (18-24); Millennials (25-39); Gen X (40-54); Boomers (55+)
Oracle provides retailers with a complete, open, and integrated suite of best-of-breed business applications, cloud services, and hardware that are engineered to work together and empower commerce. Leading fashion, grocery, and specialty retailers use Oracle solutions to anticipate market changes, simplify operations and inspire authentic brand interactions. For more information, visit our website at www.oracle.com/retail.
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