More than 9 in 10 (93 per cent) Indian consumers now worry that supply chain issues are here to stay for a longer period that thought while more than 8 in 10 (86 per cent) feel the rise of Covid Delta variant is going to further disrupt the global supply chain increasing their supply chain concerns, a report showed on Thursday.
Several Indians among those surveyed by Cloud major Oracle have been unable to purchase certain items due to shortages (45 per cent), forced to cancel orders due to delays (53 per cent) and even rationing essential items out of fear of running out (41 per cent).
Recent supply chain delays and disruptions have negatively impacted the lives of Indians, leaving many feeling frustrated and scared that the disruptions will never end, according to the report.
It found that worries about more delivery delays, product shortages, and disruptions are worsening across the nation due to the rise of the Covid-19 Delta variant, and that people are looking to brands to help settle their concerns.
Nearly 82 per cent of the respondents said delays and shortages could cause them to cut ties with favourite brands.
“Some of the insights are extremely concerning, and it is abundantly clear that supply chain issues must be addressed because these are directly correlated with customer satisfaction and purchasing habits,” said Hirak Kayal, Oracle Applications Development, JAPAC.
“The most important aspect will be to win customer’s trust, which is something every retailer strives for regardless of the nature of their business,” Kayal added.
Almost half (83 percent) of people admit they never thought about how products were delivered prior to the pandemic but now, 77 per cent considers the supply chain when making a purchase.
“Indians are increasingly worried that supply chain disruptions will continue to negatively impact their futures, with many seeing no end in sight. Nearly 74 per cent of people are concerned that ongoing supply chain disruptions will ruin their life plans, such as birthdays, holidays, trips, and purchasing necessary items like school supplies,” the report noted.
The supply chain has become a critical part of people’s purchasing decisions.
“Organisations that don’t prioritise their supply chains risk declines in customer loyalty and revenue,” the report said.
“The pandemic has highlighted the vulnerabilities of global supply chains and prompted all marketers to rethink their current policies,” said Kayal.