We’ve all been there. You Google your latest ‘must-have’ item, find the best price at a store you trust, click through to purchase and bam! Out of stock. Or worse, you purchase the item, only to receive an immediate refund and email stating the item is not available (Bluey pyjamas … I thought I had you finally!)
You’d be surprised at how often this actually happens. Adyen reports that out-of-stocks are costing Aussie retailers $14b in lost revenue (and that’s pre-COVID!) Lost revenue aside, retailers are also losing trust and customers, while sending business straight into the waiting arms of their competitors.
The solution is actually quite simple. Integrating your live inventory into your ecommerce ecosystem seems a no-brainer, right? A connected and complete omnichannel retail strategy will ensure you have everything available to sell across your entire network, no matter the channel, and not spending advertising dollars on products that are out of stock.