Brand loyalty being tested by supply chain issues
Cancelled orders and lengthy delays because of the supply chain crisis are testing British consumers’ brand loyalty like never before, with 85% of young shoppers saying they would rather switch labels than wait for their favourites to arrive.
The surprising findings show just how seriously the supply chain bottleneck is affecting peoples’ buying habits, with 91% of consumers in the UK worried that the problems are here to stay.
The research, carried out by Oracle, shows that 77% of respondents have felt the supply pinch, which has been blamed on the impact of Covid and post-Brexit adjustments.
Feelings of frustration and anxiety are common place with 74% of people saying that future delays could cause them to cut ties with their favourite brands permanently.
But consumers’ faith in technology to help iron out kinks in the supply chain is strong, with 70% saying they would be more willing to buy from a brand they knew used artificial intelligence to manage their supply chain.
“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, 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.”