Real time inventory accuracy rate not too high among retailers

When it comes to retail inventory, 68% of retailers report having an accurate view across their entire operations and just 4% report a 100% accuracy. Those are findings from a Manhattan Associates report examining the gap between the quest for seamless integration between online and offline shopping experiences and actual practice.
“In 2024’s challenging economic landscape, where consumers are more hesitant to part with their money, the necessity for a frictionless shopping experience has never been more pronounced. ANZ retailers are at a crossroads, with a clear directive to enhance their omnichannel strategies,” Raghav Sibal, Managing Director, ANZ, at Manhattan Associates, said in a press release on the findings. “Our research shows that if an item is out of stock, 36% of customers prefer having the option to find it at a nearby store or consider a similar product. Retailers who streamline this process, making every touchpoint and transaction as efficient and engaging as possible, can turn browsers into buyers.”