85% of young shoppers ‘would rather switch labels than wait for deliveries’

The vast majority – 85 per cent – of young shoppers would rather switch labels than wait for their preferred brands to arrive, according to research from US software giant Oracle.

Over nine-in-ten – 91 per cent – of the 1,000 consumers surveyed believe that the current supply chain issues, which are causing cancelled orders and lengthy delays, are here to stay.

Over three-quarters – 77 per cent – have been personally impacted by these supply chain issues, and 74 per cent of those surveyed said future delays could make them to cut ties with their favourite brands permanently.

The research also showed positive emerging attitudes to artificial intelligence amongst UK consumers; 70 per cent said they’d be more willing to buy from a brand they knew used AI to manage their supply chain for certain items.

Many executives expect supply chain issues to continue well into next year. The chief financial officer of Inter Ikea Group - Ikea’s parent company - Martin van Dam recently told The Financial Times: “For FY22 (the year to the end of August 2022), we’re looking at supply disruptions still, we’re looking at raw material increases still, we’re looking at energy increases still.”

‘Businesses need to be able to provide a consistent and transparent service to customers or risk losing them, with some consumers willing to sacrifice the product quality for the ease of delivery,” said Emma Sutton, chief customer officer, EMEA consulting, business transformation at Oracle. “Supply chains are global, but the technology is available to manage them from anywhere in the world, predicting disruption in order to get ahead of it, and keeping customers updated in real-time.”

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