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- A survey of more than 1,000 US consumers revealed that concerns about the shipping crisis are escalating.
- The majority of Americans surveyed have experienced shortages and have changed their shopping habits as a result.
- The survey results correspond to the concerns of industry experts about an industry in “crisis mode”.
- See more stories on the Insider business page.
The majority of Americans fear that the current supply chain crisis could upend their life plans, according to a new study from Oracle.
The survey of more than 1,000 American consumers found that 82% of Americans are concerned about the impact of global supply chain disruptions on their life plans, including birthdays, holidays and the possibility purchase the necessary supplies. The results of the study were released on Wednesday and respondents were polled from September 9-10.
The supply chain is poised to have a major impact on vacation plans this year. Executives have warned customers to start shopping for holiday gifts as soon as possible as thousands of shipping containers face weeks behind schedule.
The majority of respondents were also concerned that the issue would affect their ability to buy what they need, as well as to celebrate the holiday season. 92% say they fear the problem will only get worse – a likely outcome, transport workers and executives have warned. Earlier this week, the executive director of the Port of Long Beach said the industry was in “crisis mode.” Workers on Wednesday warned world leaders of an impending “systems collapse” if the industry’s problems are not addressed.
The study also found that more than half of Americans fear the supply chain crisis will never end. The supply chain problems that have threatened the economy since the start of the pandemic have also changed the buying habits of consumers. Oracle’s survey found that 91% of respondents consider the supply chain when making a purchase, a big increase from 45% before 2020.
“This information clearly shows that current global supply chain issues are impacting many Americans,” said Jon Chorley, vice president of the SCM group and chief sustainability officer at Oracle. “At the end of the day, the supply chain is where brand promises are kept or not. Organizations capable of delivering the supply chain efficiency and transparency that customers expect will be rewarded with greater customer loyalty and accelerated business growth.
87% of those polled said they had seen firsthand the impact of the crisis due to shortages, delays and rationing – an issue that has prompted 91% of Americans to change their shopping behavior as a result of sourcing items, purchasing items in advance. , and monitoring of shortages. At the start of the pandemic, a similar buying spree pushed shortages of needed goods like
toilet paper
– an item that stores like Costco have already started rationing again.
The supply chain crisis has many US residents worried about shortages, but security is something many seem more than willing to pay for. The Oracle survey found that 81% of those polled were willing to pay a higher price to avoid delivery delays, while more than half would stop buying from a brand after one to three delays or interruptions.
Several large companies have also decided to pay extra to avoid shipping delays and shortages. Last week, Insider reported that Walmart, Lululemon, and Ikea were chartering their own container ships, while Home Depot was flying with power tools.
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