Delighted customers returned to Parisian cafes on Wednesday after six months of closure – Â© AFP
What matters most to online shoppers? According to Joe Harris, Director of Revenue at Whereoware, there are important strategies brands can use to increase sales and improve the customer experience as the world grapples with supply chain challenges.
This is similar to the results of a 2020 McKinsey survey, which found that 34% of consumers have purchased with a new brand, retailer or website since the pandemic and 29% of them cite the availability of products as the reason. This means that a continuous supply of the most popular products is imperative for retailers.
As the report states: âThe supply chain and operating model is often a secondary focus for a small brand but critical for scale up. An acquirer can provide supply chain instruction or even integration support to help the small brand build a strategic and responsive supply chain. This is especially useful in categories with long lead times, highly regulated environments, or fluctuating raw material costs. “
Therefore, building robustness in the supply chain is an issue of great importance to many businesses, especially in these turbulent economic times. Consumers don’t like stockouts.
This ties in with the work of sociologist Albert Hirschman who wrote in his 1970 book ‘Go out. Voice and Loyalty: Responses to the Decline of Businesses, Organizations and States How, in the end, there is a conceptual ultimatum that confronts consumers in the face of deteriorating quality of goods: either exit or voice.
Harris notes that supply chain disruptions are inevitable and will impact the upcoming Christmas shopping season (or “holiday” in the United States) (as discussed in many reports on business). Despite this, Harris believes merchants can improve the customer experience and drive sales through smart website optimizations and marketing campaigns that redirect customers from out-of-stock products to ready-to-sell inventory.
To do this, Harris says Digital journal its recommendations to traders. These ideas are:
- Clearly indicate the inventory on their site with an “out of stock” message.
- Alert customers when previously viewed or purchased items are back in stock or on sale with an automated, personalized email.
- Customize an artificial intelligence algorithm for product recommendations to show only available products.
- If a product is out of stock, display the product recommendations available on the product detail page (PDP) or use retargeting ads to show consumers similar options.
- Use website tracking technology to identify the busiest areas of your website and update them to promote the items you have in stock.
Harris believes that following best practices will give retailers a competitive advantage.