Here’s a fascinating statistic:
People would rather switch brands than wait for out-of-stock products to come back in stock.
It gets better
During the 2023 holiday season, customers were shown more than 2B out-of-stock product messages.
Opportunities from out-of-stock products
Products from popular brands frequently go out-of-stock during the holidays.
And because people are desperate to make purchases, they’re open to buying from new brands.
So if you’re looking to steal some customers from your competition, this is your opportunity.
There are two easy ways to do this
If you notice that one of the items you’re selling is commonly out of stock on your competitor’s sites, try bumping ad spend for that product.
Odds are, customers know the product is hard to find and will jump at the chance to get it.
Bump it up
You can also try giving that product more visibility on your own website.
Of course, pre-holiday planning is important, too
If you can accurately predict which items will go out of stock and bolster your own supply, you’ll have a better chance of welcoming thousands of new customers when the next holiday season comes around.
P.S. We apologize if this gives you any flashbacks to $30 rolls of toilet paper on eBay in mid-2020.