Retailers risk losing store visits and online sales if customers can’t quickly confirm whether a product is available. That’s according to new consumer research commissioned by digital consultancy Sherwen Studios.
Sherwen Studios works with retail brands including Peacocks, ScS, Booker, Londis, Premier and Budgens. It says retailers should treat real-time stock availability as a commercial priority, not just an operational one.
If a customer cannot confirm a product is available when they want it, a retailer risks losing the transaction entirely before the shopper reaches the physical store or starts the online checkout process.
Sherwen Studios commissioned independent research from Censuswide for its latest report, The Omnichannel Illusion: Customers can’t value what they don’t experience. The research surveyed a nationally representative sample of 2,000 UK consumers aged 18 and over about shopping habits. The findings suggest that real-time stock visibility influences decisions at several stages of the customer journey.
They also highlight the commercial implications of stock visibility and product availability across physical and online retail.
- 29% would abandon an online purchase if an item was out of stock, making stock availability a factor that can directly cost retailers an online sale.
- Additionally, one in five consumers (20%) say real-time stock availability would make them “more likely” to complete an online purchase. This highlights the potential conversion opportunity for retailers to make stock availability clear long before the checkout stage.
- 26% of shoppers say products being out of stock is one of the three most common reasons they are put off shopping in store. However, 26% also say access to real-time stock information before travelling would make them more likely to visit a physical store, while 23% want the option to reserve products online before visiting.
- 28% say access to real time stock checks on their phone would most improve their experience in a physical store, showing that the digital features shoppers value can be relatively practical.
- One in four consumers (25%) believe real-time stock visibility should be available as standard across stores and online.
For years, retailers have invested in connecting ecommerce platforms, stores, inventory systems and fulfilment operations. However, Sherwen Studios believes the commercial value of that investment is limited if customers can’t see accurate stock information at the moment they decide where, when, and how to buy an item.
If product availability information is missing, inaccurate, or inconsistent, retailers are creating an unnecessary barrier. If shoppers are uncertain or hesitate at any point in the shopping journey about whether what they need is in stock, it can keep them from visiting a physical outlet, cause them to abandon the purchase, or push them to shop elsewhere.
Matt Sherwen, Managing Director of Sherwen Studios, says: “Stock visibility has moved beyond being an internal operational measure. It now directly influences whether a customer visits a store, reserves a product, or completes a purchase. Retailers may have invested in sophisticated inventory and fulfilment systems behind the scenes, but those investments have limited commercial value if a customer cannot see accurate product availability when they are ready to make a purchase.”
He continues: “There is a clear commercial opportunity in making stock information consistent and visible throughout the customer journey. Giving customers confidence that a product will be available can help retailers protect sales, increase the value of store visits and reduce the risk of customers shopping elsewhere.”
The full report, The Omnichannel Illusion: Customers can’t value what they don’t experience, explores attitudes towards connected retail, delivery, loyalty, personalisation and artificial intelligence. It identifies where shopping journeys still feel separate and recommends ways to make existing omnichannel capabilities more visible to customers.
The report can be downloaded from Sherwen Studios’ website.
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