Hardware Retailing The Industry's Source for Insights and Information
No industry is immune to the supply chain woes gripping the retail world. While consumers are well aware of the issues, they are still looking for answers and relying on their favorite retailers to still provide the products they need. A recent study from Oracle found that 87 percent of respondents have been negatively impacted by supply chain issues over the past year and 92 percent are concerned that supply chain shortages will prevent them from buying what they need this holiday season.
While you might not have the power to get every product for every shelf in your store, there are some steps you can take to keep your customers happy, even in spite of supply chain issues. As we head into the holiday season, here are three ways you can help your customers navigate supply chain disruptions.
Be transparent on supply issues. Don’t sugarcoat the issues, but rather be upfront and honest about what products you’re struggling to stock and why. While the truth doesn’t solve the issue, it does set expectations with your customers. Be patient with your customers and in turn, ask them to be patient with you.
Encourage customers to shop early. Give your customers friendly reminders that they should shop early if they want the best selection for the holidays. Put a “Days Until Christmas” sign up in the store or on your website or social media to help customers count down the days or run holiday-themed ads early in the season.
Offer early discounts. Forget Black Friday and run blockbuster sales earlier in the season. Get creative and have fun with it. For example, a Veteran’s Day sale would be a great way to encourage early sales while also supporting a cause.
