o9 Survey Reveals That Consumers' Perceptions of Supply Chain Disruptions Are Shifting Their Purchasing Behaviors
o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making, has released a new survey that reveals how consumers perceive the impact of supply chain disruptions, specifically regarding product availability. More than half of consumers (52%) surveyed indicated that they personally experienced supply chain disruptions in the last 12 months, and 49% reported issues with product availability for goods they typically purchase.
Based on a Q3 2023 survey of 1,026 U.S. respondents in collaboration with TEAM LEWIS, the U.S. Shopper Spotlight: o9 Consumer Survey 2023* finds that supply chain constraints impacting product availability have played a role in consumers' shifting purchasing patterns. More than one-third of consumers have stopped purchasing items due to cost increases (38%), started to do more comparison shopping (35%), and adjusted their shopping habits by prioritizing what products they need to purchase each month (33%).
Additionally, the survey found that:
"Retail and CPG sectors are certainly the most visible to consumers since we can immediately detect when supply chain issues arise and result in out-of-stock inventory," said Igor Rikalo, President and COO at o9 Solutions. "Companies need to excel in predicting demand well ahead of when products will be available in stores and then synchronize production and logistics to ensure the right product is in the right quantity at the right store. That requires complex planning processes that are supported by advanced analytic technologies, such as the o9 integrated business planning platform. The use of these technologies doesn't just alleviate supply chain risk; it fundamentally transforms how businesses operate, making them more resilient, efficient, and responsive to market changes and shifting consumer buying behaviors."
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