Trust. It's a word we typically associate with a family member. Close friend. Good neighbor. But more and more customers are using the word to describe their relationship with a favorite retailer. In uncertain times, customers are turning to the retailer they know and believe they can count on...for a quality product, dependable service and an experience they will want to repeat.
In fact, this year, 38% of respondents in a recent IBM survey can be described as advocates, almost double the 21% of last year.1 And by 2020, more than 80% of marketers say they will be focused primarily on earning trust.
Trust means delivering on your promises: getting the product you've promoted to your customers onto your shelf and into their hands. Yet retailers continue to disappoint: The out-of-stock rate for promoted products is around 17%.2 and the retail industry loses a staggering $93 billion in sales annually due to not having the right merchandise in stock.3
One reason is that many supply chains are built on systems that are three decades old, tremendously complex and rooted in a push-based philosophy. But that is starting to change as retail operations get smarter.
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