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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