Consumers panic buy ahead of the festive season

By Given Majola for IOL

More consumers were panic buying ahead of the festive season and 66 percent of them were worried that supply chain disruptions would ruin their holiday shopping plans, according to a new global Oracle Retail consumer research study.

Oracle’s study, which polled 5 728 global consumers in September, showed that supply chain disruptions have left people feeling frustrated and that 66 percent of consumers were worried that this would ruin their holidays. As a result, 28 percent of consumers started their holiday shopping early, while 24 percent said they still planned to start their shopping earlier than usual.

Additionally, 27 percent of respondents were concerned that the items they planned to buy would not be in stock, 28 percent were worried these items would be more expensive and 38 percent feared these items would arrive later than anticipated.

Approximately 34 percent of consumers were considering buying more gift cards this year and this was also the gift 37 percent of respondents said they would want to receive the most.

The study found 26 percent of consumers said they planned to buy more fashion apparel, home goods and electronics. Beauty products were the gift of choice for 26 percent of the respondents, while footwear was hot on their heels for 22 percent of consumers.

 

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