Empty Shelves Cost Retailers $82B in lost Consumer Products Goods Sales in 2021!
Nielsen IQ reports 2021 lost sales of $82B, due to product unavailability.
Despite severe supply chain challenges, the U.S. consumer goods market generated $970B in sales in 2021, 2.1% more than the record sales of $950B in 2020, and 11.9% jump from 2019.
Obstacles like labor shortage and high inflation have pressured retailer's to keep their stores running. They have cut back on the number of products they carry, thus seeing customers making fewer shopping trips, causing further disruption.
The overall on-shelf availability rate was 92.6% in 2021, Nielsen IQ found.
SOURCE: Grocery Dive