Here’s a fascinating statistic:
People would rather switch brands than wait for out-of-stock products to come back in stock.
Interesting, right?
It gets better: During the 2021 holiday season, customers were shown more than 2B out-of-stock product messages. Hmmm….
The great out of stock opportunity
Seeing the opportunity yet? 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
Promote it.
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.
What about thinking in advance?
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.
