Industry research
Savvy stockmanagement keeps shoppers shopping Why savvy stock management is key to keeping customers coming back for more.
INDUSTRIES THAT EXPERIENCE THE
One guaranteedway to irritate your online customers is for them to find a product they really want to buy fromyour website, only to find that it’s out of stock. According to our recent survey of online shoppers, 42%of Brits said they feel frustrated and almost a third feel annoyed when an itemthey want to buy is out of stock. In fact over 50%of UK shoppers said they would go elsewhere if their item isn’t in stock. Residents in Newcastle are themost likely to be deterred from going back to a brand’s online shop if lack of stock had been an issue, whereas Londoners are prepared to give a retailer three strikes before actively stopping any repeat custom. However when customers are notified that only a few of their potential purchases are left in stock, 78% said they aremore willing to buy online the same day for fear of their desired product selling out. MelanieDarvall, Director ofMarketing and Communications atWhistl said: “Our research shows that efficient stockmanagement is not just aback-end, internal process for keeping track of inventory, it has adirect effect on the relationshipwith your customers andwhether they shopwith youagain. “Even themost loyal customers are put off by out-of-stock messages, andmany will turn to competitors instead of waiting for
you to reorder from your supplier. That’s why it’s so important for big e-tailers and multi-channel operators to have a highly efficient real-time inventory management system in place. Lieneke Happel, Managing Director of Whistl Fulfilment said “Here at Whistl we offer a range of fully customisable, integrated IT solutions that give you visibility of your stock fromfirst click to final delivery. Not only does this leave you in total control of your inventory throughout the product journey, it enables you to get fresh stock in at the right time and alert customers when there are only a few products left. “It’s all about getting the balance right between keeping your customers happy and keeping enough in-demand products in stock without spending toomuch on surplus inventory and overseas shipping. Above all, it’s about keeping your supply chain agile and responsive to customer demand, and that’s where our teamhere at Whistl Fulfilment can really add value.” Whistl offers a range of fulfilment solutions for online retailers including integrated IT, storage, pick and pack, despatch, returns and call centremanagement. To find out more visit www.whistl.co.uk /fulfilment or email moreinfo@whistl.co.uk
MOST OUT OF STOCK ISSUES Fashion
43%
16% 15%
Food and drink
Technology
6 Whistl Magazine • Winter 2018
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