There are product shortages effecting a wide range of businesses and consumers, and one shortage is hitting…
There are product shortages effecting a wide range of businesses and consumers, and one shortage is hitting a very specific group – new parents.
Datasembly is a provider of real-time product pricing, promotions, and assortment data for retailers and brands.
They have released data showing baby formula out-of-stock rates are soaring.
The Out-of-Stock Rate in April 2022 hit 31%.
Baby formula stock was relatively stable for the first half of 2021, with an out-of-stock rate fluctuations between 2 and 8%.
By November of last year, the rate had reached 11%.
Earlier this year, baby formula shortages hit 23% in January.
Nationwide, seven states – not including Kansas – had out of stock rates of over 40% last month.
Three major metro areas had out of stock rates higher than 50%.
They are Des Moines, Minneapolis, and San Antonio.
Research indicates the rate will continue to worsen.