With the evolution of 11.11 Singles’ Day retail festival which grows bigger every year, our Executive Vice President of Ecommerce Asia Mitch Bittermann recently discussed in Business Times and Retail in Asia how retailers can maximise sales during this hallmark event.
However, the current supply chain and freight disruptions coupled with increasing consumer expectations is making it more challenging for brands to deliver on their promises, especially when it comes to fast and on-time deliveries.
“Consumers today want their orders faster than ever before, with research indicating more than a third (36 percent) of online shoppers having requested for same-day delivery this year, up from 24 percent last year. These high consumer expectations also translate into huge disappointment when goods are not at their doorstep when expected,” says Bittermann.
The pressure on supply chains, which are still recovering from the aftermaths of Covid 19, is enormous. “Early forecasts see the issue being exacerbated in the coming months, as supply chains build towards peak festive seasons with Christmas, New Year around the world,” adds Bittermann.
With the situation unlikely to resolve until after the Lunar New Year period, read more about what retail players are doing to work around the delays, and what shoppers can expect this season, on Retail in Asia here, or the full Business Times article here with subscription.