Stock Issues Rampant for Top Retailers During Black Friday and Cyber Monday
FindMine, the leading content engine for iconic brands and retailers, performed first-party analysis on the websites of 10 publicly-traded retailers during Black Friday and Cyber Monday. The study looked at thousands of product pages across the sites to see 1) how often these sites were showing storytelling content or editorial-style recommendations such as how to use a product in an outfit, in a furniture set, etc., and 2) how often products in these elements were out of stock.
NEW YORK, Dec. 8, 2021 /PRNewswire-PRWeb/ -- FindMine, the leading content engine for iconic brands and retailers, announced today the results of a first-of-its-kind study of the performance of retailers' and brands' storytelling content during Black Friday and Cyber Monday, the biggest shopping days of the year.
FindMine performed first-party analysis on the websites of 10 publicly-traded retailers: Carters, Chico's, Dick's Sporting Goods, Express, Farfetch, Hibbett Sports, JCP, Kohl's, Macy's and Nordstrom.
The study looked at thousands of product pages across the sites to see 1) how often these sites were showing storytelling content or editorial-style recommendations such as how to use a product in an outfit, in a furniture set, etc., and 2) how often products in these elements were out of stock. Here are the findings:
- FindMine estimated that these 10 sites sacrificed $119M due to issues with these storytelling elements.
- Four top retailers surveyed showed Out of Stock products 10% of the time.
- This analysis didn't even get into "out of stock in my size" which to a consumer is as good as full-on out of stock. However, FindMine found many of these instances in the research
- The research also revealed Quality issues such as suggesting beach pants in a work outfit
- his type of content is editorial in nature (wear it in this outfit, style your living room like this) and therefore high-risk to get wrong, so it seems that automation is not as easily applied here as to simpler, "you may also like" recommendations. This could be one reason why coverage is low and stock issues abound.
- Nordstrom, with their AI outfitting is a standout here (even though stock issues should be fully mitigated).
- On average, only 54% of product pages contained this type of content ("Coverage"). But FindMine notes the selection bias in the data, as the sample was specifically constrained to sites where this content was known to be shown, at least some of the time.
- FindMine research also found that less than 34% of the top 150 biggest retailers show this content on product pages at all.
- Retailers who use FindMine (not in the list of retailers above) saw an average coverage of in stock products of over 90% across more than
This research highlights the financial impact of the supply chain issues faced by retailers, poor inventory visibility between systems, and the lack of scale in the content and storytelling available for each product.
Learn more and get the full data set at https://bit.ly/3ye8qJR
About FindMine, Inc. FindMine is the world's leading company helping iconic brands scale their editorial point of view. FindMine saves merchandising teams 90% of their time while increasing content exponentially, enhancing sell-through, boosting Margins and Customer Lifetime Value and providing a consistent omnichannel customer experience. FindMine powers best-in-class customer experiences for clients like Cole Haan, adidas, Rogers, and more across ecommerce, email, chat, marketing channels, and stores. FindMine is a Gartner Cool Vendor in retail, the winner of the inaugural retail VIP Award for Best Saas/Cloud Provider, and two-time winner of the Coresight Research Breakfast with the Disruptors.
Media Contact
Auggie Toneva, FINDMINE, 1 (646) 818-9930, [email protected]
SOURCE FindMine
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