TYSONS, Va.--(BUSINESS WIRE)--Datasembly, the leading provider of real-time product pricing, promotions, and assortment data for retailers and CPG brands, has released custom data that reveals baby formula out-of-stock rates continue to soar.
Datasembly's real-time hyper-local data analysis demonstrated that baby formula stock was relatively stable for the first half of 2021, with out-of-stock (OOS) fluctuation between 2-8%. The OOS detail shows that in January 2022, baby formula shortages hit 23% and have continued to worsen, showing OOS levels now at 31% as of April 2022.
“Inflation, supply chain shortages, and product recalls have brought an unprecedented amount of volatility for baby formula,” said founder and CEO, Ben Reich. “We expect to continue to see the baby formula category being dramatically affected by these conditions. Baby formula stock has been one of the more affected categories so far in 2022, and one that will continue to demonstrate higher than average out-of-stock levels.”
Baby Formula Out of Stock Trends
- For the first 7 months of 2021, OOS percentages were relatively stable and fluctuated between 2%-8%
- In July, the OOS percentage moved into the double digits and then started to increase significantly towards the end of November where it went from 11% nationwide to 31% by the week starting April 3rd
- It’s notable that overall prices didn’t increase when out-of-stock percentages started to increase. For example, in January when the average OOS was at 3.3%, the average price of all baby formula products in our coverage was $24.37. In March, when the average OOS was at 28.4%, the average price was $26.21, about a 7% difference. Even during Nov and Dec when OOS was hovering between 24-27%, the average price was between $24-$25
- For the week of April 3rd, there were 7 states that had OOS higher than 40% - Connecticut, Delaware, Montana, New Jersey, Rhode Island, Texas, and Washington
- During that same period, there were 20 states that had OOS between 30-40%
Metro Area Trends
- For the week of April 3rd, there were 12 major metro areas that had OOS higher than 40% - Baltimore, Charlotte, Des Moines, Greenville, Hartford-New Haven, Houston, Minneapolis, Nashville, New Orleans Mobile, Oahu, San Antonio, and Seattle
- Three major metro areas had OOS higher than 50% - Des Moines at 50%, Minneapolis at 55%, and San Antonio at 56%
Datasembly's real-time hyper-local dataset also powers the Grocery Price Index™ (GPI) which allows users to drill down to specific geographies, across 14 major categories, giving retailers and brands the most holistic look at the local competitive landscapes for the most valuable insights. The index can also be localized to see trends in 54 of the largest major metropolitan areas in the U.S. as well as by state.
Datasembly’s GPI is a free, interactive resource with the widest set of standard metrics to help retailers better understand industry pricing trends. The GPI is a culmination of over a trillion pricing and product records that Datasembly has collected from over 155,000 stores and nearly 220 retail banners across the United States.
Datasembly empowers brands and retailers to make data-driven decisions about prices and promotions in real-time. Datasembly collects hyper-local, real-time data from tens of thousands of retail, grocery, and QSR locations across North America. Datasembly’s intuitive web app leverages this data to solve real-world problems and deliver immediate visibility and insights that save time, money and improve efficiencies. For more information, visit www.datasembly.com.