Preceding last year’s Super Bowl, Kraft Heinz made headlines when the food and beverage manufacturer said it planned to give employees the day off after the big event. This news came as mainstream media outlets calculated the costs on employers due to truant workers. The impact of this much-watched game on the Monday workforce continued once again this year; however, worker presence and productivity following major events are not the only thing impacting the U.S. economy as of late.
Also placing a drag on the market occurs when consumers are faced with out-of-stock products during their brick-and-mortar shopping experience. According to Information Resources Inc. (IRI), out-of-stock products cost U.S. retailers approximately $47.4 billion each year. Anecdotally, I can say that when you are shopping with a toddler who would rather be making a pink pumpkin out of Play-Doh instead of at the grocery store, being faced with out-of-stock necessities can be quite deflating and seeking a comparable alternative is not always a luxury when factoring in nap times or other toddler triggers. Although not as public as a toddler meltdown, retailers also are dealing with their own disappointment when losing a potential sale because of out-of-stocks.