While the supply side grapples with reconfiguration, the demand side has undergone a revolution of its own. According to Goel, consumer expectations have dramatically evolved over the past two decades.
According to a report by McKinsey & Company, e-commerce sales have experienced a significant boost, with growth rates far surpassing traditional retail in many markets.
Factors like high customer expectations, panic buying, fluctuating trends, and ambiguous consumer data have led to manufacturers, distributors, and retailers, all finding it difficult to forecast the actual demand.