Supply chain leaders 👋 Maximize your holiday selling results by building a proactive backorder strategy to enable substitutions and backorders. Read our recent blog to uncover 4 pillars for building your strategy: GartnerSC DigitalCommerce
As a child, I remember Black Friday shopping was an event. We would scour the newspaper ads to find deals. And, with our bellies still full from Thanksgiving dinner the night before, we’d get up early Friday morning to shop. We had a game plan, prioritizing which stores to drive to first based on who was most likely to run out-of-stock if we weren’t there early. I can’t remember ever coming home with any great purchases. My mom must have just enjoyed the hunt, and … well, us kids liked it too.
The small sales window leaves little room for mitigation if a product goes out-of-stock during the event. In this competitive time, if a brand goes out-of-stock, a consumer may go to a different brand or a different marketplace to find an alternative resulting in a lost sale that will not be recouped once the event is over.
Research showed that more than half the time when an item was out-of-stock, consumers actively sought to substitute their purchase for something similar.2 By contrast, consumers in China and Japan more frequently delayed their purchase entirely or purchased from another online store compared to global averages.2 The below consumer decision matrix, based on the GCC and CBA studies, can provide insight into substitution and backorder planning.
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