Market research firm Numerator reached out to more than 10,000 Cyber Weekend shoppers in an effort to understand how consumers are reacting to trends as the holiday shopping season progresses and discovered, among other things, that their shopping has been hit by out-of-stocks.
Numerator, as part of its Product Shortages & Inflation Impacts Survey, reported 74% of consumers said product shortages have impacted their shopping this year, with 28% claiming a moderate or significant impact.
In addition, Numerates stated:
- 72% of holiday shoppers have noted longer shipping times and shipping delays this year
- 56% of shoppers said they wouldn’t be able to get everything on their due to shortages, and 52% are postponing gifting until what they want becomes available
- 51% are spending less overall because desired items are out of stock
- 84% of shoppers said inflation affected their shopping this year, with 39% claiming a moderate or significant impact
- 55% of shoppers are seeking out additional promotions and sales as they compensate for higher prices, and 36% are buying fewer gifts overall.
- 36% of consumers have experienced electronics product shortages, 32% in toys and games, 29% in home goods, and 27% in apparel
- 69% of consumers are substituting similar items when products they want are out of stock, while 60% of consumers said they are checking with multiple retailers while holiday shopping, and 51% said they are willing to pay higher prices to get the items in short supply
- 72% of consumers said they started their holiday gift shopping earlier this year because of news about inflation and product shortages