Indian consumers worried supply chain issues here to stay
A survey of more than 1,000 Indian consumers by software giant Oracle found that worries about delivery delays, product shortages, and disruptions are worsening across the nation due to the rise of the Covid-19 Delta variant, and people are looking to brands to help settle their concerns.
November 29, 2021: A survey of more than 1,000 Indian consumers by software giant Oracle found that worries about delivery delays, product shortages, and disruptions are worsening across the nation due to the rise of the Covid-19 Delta variant, and people are looking to brands to help settle their concerns.
As many as 93 percent of people have been negatively impacted by supply chain issues over the past year with many Indians unable to purchase certain items due to shortages (45 percent), forced to cancel orders due to delays (53 percent), and even rationing essential items out of fear of running out (41 percent).
While 61 percent of people admitted they've blamed missed gifts for special occasions on supply chain issues, they said they have hurt people they care about as a result (25 percent).
“The pandemic has highlighted the vulnerabilities of global supply chains and prompted all marketers to rethink their current policies,” said Hirak Kayal, Oracle Applications Development, JAPAC. “The overall economic environment has influenced customer preferences and spending habits. Some of the insights are extremely concerning, and it is abundantly clear that supply chain issues must be addressed because these are directly correlated with customer satisfaction and purchasing habits. Stakeholders who work to develop shock-resistant, integrated, and customer-oriented supply chains will significantly gain and have an edge over others, allowing them to thrive in the long run. The most important aspect will be to win customer’s trust, which is something every retailer strives for regardless of the nature of their business."
While 83 percent of people admitted they never thought about how products were delivered prior to the Covid-19 pandemic, 77 percent now considers the supply chain when making a purchase. Supply chain disruptions have left people feeling frustrated (51 percent), impatient (45 percent), anxious (41 percent), and angry (40 percent). Nearly 50 percent are concerned that supply chain shortages will prevent them from being able to buy what they need and 48 percent are worried it will ruin their holidays.
Will disruptions never end?
As many as 74 percent of people were concerned that on-going supply chain disruptions will ruin life plans such as birthdays, holidays, trips, and purchasing necessary items like school supplies. While 86 percent are more concerned now with the rise of the Covid-19 Delta variant, 68 percent of people are scared that supply chain disruption issues will never end.
As many as 94 percent of people plan to change their buying behavior, including buying in bulk and stocking up on items (36 percent), purchasing gifts earlier to allow for delays (39 percent), and paying closer attention to global shortages of items they regularly use (38 percent).
The survey found that 92 percent of people are willing to pay a premium for smooth and timely delivery of their items while 53 percent said delays would cause them to cancel orders and (82 percent) said delays or shortages would even cause them to stop buying from a brand entirely.