Survey: 70% of holiday shoppers have abandoned purchase due to out-of-stock item
The majority of consumers are sticking to a holiday wish list when shopping this year, making having items in stock critical for retailers.
Nearly seven-in-10 (69%) shoppers are entering the season with specific purchases in mind, and 74% have a budget they want to stick to, according to a new holiday survey from inventory management software firm Cin7.
Consumers say that product availability is crucial for them when shopping for gifts this holiday season. The overwhelming majority (94%) of respondents say that item availability influences where they shop, and 91% say they feel frustrated when items they want are out of stock. Seventy percent of holiday shoppers say they have abandoned an entire purchase because an item they were looking for was out of stock.
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Nine-in-10 shoppers told Cin7 that real-time inventory updates would make them more likely to purchase from a store. More than half (54%) of respondents said they would pay more for items that were guaranteed to be in stock and available for immediate delivery or pickup.
“Strategic inventory management can be the deciding factor in winning sales and standing out in a competitive market,” said Cin7.
Other insights from the survey include the following:
- 56% of consumers plan to start holiday shopping before December.
- 77% of shoppers that are sticking to a wish list say that a deal would cause them to make a purchase.
- Flash sales would cause 54% of shoppers to exceed their budget, and 43% would push the envelope for a limited time deal.
- Two-thirds of holiday shoppers discover small businesses through social media, while 67% find them through local markets – with early bird shoppers being 51% more likely to support small businesses this season.
Cin7 partnered with Kickstand Communications to survey 605 shoppers in early 2024.
