New research reveals that over 90 per cent of Brits are worried that supply chain problems will be ongoing, throwing brand loyalty out the window.
The last 18 months has highlighted the vulnerabilities of the supply chain. With the pandemic, Brexit, and ongoing labour shortages, UK businesses have been through the wars.
However, the Oracle data showed that despite these well-publicised challenges, 74 per cent of consumers say that future delays could cause them to cut ties with their favourite brands permanently.
Of the 1,000 UK adults interviewed, 70 per cent say they’d be more willing to buy from a brand they knew used Artificial Intelligence to manage their supply chain, at least for certain items: showing a huge shift in customer mindset.
Cancelled orders and lengthy delays because of the supply chain crisis are testing British consumers’ brand loyalty like never before, with 85 per cent of young shoppers under 35 said they would rather switch labels than wait for their favourites to arrive.
On these findings, Emma Sutton, chief customer officer, EMEA Consulting, Business Transformation at Oracle, said: “Businesses need to be able to provide a consistent and transparent service to customers or risk losing them, with some consumers willing to sacrifice the product quality for the ease of delivery.”
“Supply-chains are global but the technology is available to manage them from anywhere in the world, predicting disruption in order to get ahead of it, and keeping customers updated in real-time.”