Out of stocks can be a costly occurrence for retailers, as a study commissioned by IHL Group has found. In 2015, out of stocks, overstocks and returns cost retailers an estimated $1.75 trillion and out of stocks accounted for $634.1 billion in lost retail sales for the year ending in the spring. Here are three best practices to keep out of stocks from ruining your holiday season.
out of stock
Consumers want more flexibility in shipping and fulfillment, including the ability to select delivery dates and times, and to reroute packages based on personal preferences. With consumers placing a heavy emphasis on shipping in retail decision-making, it’s critical for retailers to explore new ways to leverage logistics strategy as a driver of omnichannel success.