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Podcast: Why out of stocks are becoming a real problem

“Empty shelves” was cited by shoppers as the number one reason for leaving a store without the products they intended to buy

Chloe Riley, Executive Editor

August 3, 2023

 

Are your shelves stocked? And if not, why not? That’s the question we’re exploring today with Greg Buzek of global research and advisory firm IHL Group, which just released new research around global retail sales

In 2023, the total cost of inventory distortion is projected at $1.77 trillion, according to the IHL research — down $172 billion from 2022 with out-of-stocks accounting for $1.2 trillion and overstocks totaling $562 billion.

The study also looked at the true cost and experiences of consumers who reported the reasons they left stores without buying the items they planned to purchase.

According to the study, although consumers have seen improvements in on-shelf availability, they list various reasons for leaving without their items including: sizes not being available, lack of employee help, products locked up or in the stockroom, or empty shelves. 

Take a listen.

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Have a pitch for the podcast? Reach out at [email protected]. And thanks for listening.

About the Author

Chloe Riley

Executive Editor, Supermarket News

Chloe Riley is the Executive Editor of Supermarket News, which delivers the ultimate in competitive business intelligence, news and information for executives in the food retail and grocery industry. A graduate of the School of Journalism at Columbia College Chicago, Chloe previously served as a Digital Strategist at SEO firm Profound Strategy, Associate Editor at B2B hospitality mag HOTELS Magazine, as well as CEO of her own digital strategy company, Chlowe. She lives in Woodstock, Illinois. 

Email her at [email protected], or reach out on LinkedIn and say hi. 

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