Is lack of Accurate Stock Availability Metrics Impacting your Ecommerce Revenue?
Product availability is the key issue for brands looking to expand their presence across the fast-paced E-Commerce landscape. With the expansion of new categories that cater to shoppers’ last-minute needs, quick commerce platforms are expanding their horizons. There is a need to measure and monitor stock availability performance across platforms and geographies. Customer loyalty is affected by availability issues as the industry figures suggest that 20-30% of customers may switch to competitors permanently after encountering product unavailability. Also, Tier 2 and 3 cities may face upto 20% more disruptions due to logistical challenges caused by lack of accurate and high-quality availability metrics.
Let’s dive deeper and assess the core issues that brands face on ecommerce and quick commerce platforms. It is important that digital first customer-facing product-oriented brands today understand that reducing out-of-stock occurrences can lead to a lift of revenue by 5-8% with real-time business intelligence and insights.
To know more visit: Is lack of Accurate Stock Availability Metrics Impacting your Ecommerce Revenue