Never has the volatility of global supply chains been more apparent than it is now. And so, as part of the Catalyst research program, which taps into Cint’s global consumer network, our market research automation platform helped to investigate consumer response to out-of-stock issues.
With the impact of the pandemic still taking its toll on industries across the globe, the ongoing Russia-Ukraine conflict has exacerbated supply chain challenges that were already causing unprecedented delays and increasing inflation rates. With everything from corn, barley, wheat and fertiliser to semiconductor chips suddenly in short supply, consumers are feeling the repercussions.
How these repercussions are felt across the globe and in different consumer groups varies broadly, however, and so Cint’s market research technology enabled the Catalyst program to investigate how supply chain issues have affected consumer behavior.
For instance, it was discovered that a common response was to shop in multiple stores, while Americans in particular were quick to switch products. Overall, more than one in five consumers switched products when faced with a shortage.
Across all markets, too, supply shortages encouraged consumers to increase their online purchases, but UK and US consumers were more likely than Australians to do so. This is likely related to the greater maturity of grocery ecommerce in these markets. The research also shows that Millennials in the UK and Australia felt more impacted by a shortage of the top ten product lines than Americans, while, in the US, Baby Boomers felt the most impacted.
It’s clear that brands must consider the strength of their distribution and omnichannel strategy, and their messaging, in order to reassure consumers.
Indeed, as this blog post produced by the Catalyst program points out, the trick is to get ahead of the curve, and to identify upcoming stock issues and consumer triggers before they occur. More effective communications and messaging is just one tool for retaining more customers and strengthening brand loyalty in the wake of supply chain issues and changing consumer behavior.
Now more than ever, companies need to take a data-driven approach and monitor consumer behaviours closely.
Cint, which is trusted by over 3000 insight driven companies around the world, is providing respondents for Catalyst, an open-source research program investigating consumer concerns about social and environmental issues. The program is building a body of knowledge to fuel conversation, action and behavior change by supporting businesses with insights that fuel their own programs of action.
Read the full article produced by the Catalyst program here.