Skipped is the first of its kind in APAC — an AI-powered multi-merchant network that enables brands and retailers to keep selling even when out-of-stock. Meanwhile, our AI models learn from our multi-merchant network to deliver unprecedented predictive and factual insights on sales, inventory and supply chain performance. Typically, 30% of online shoppers have had a terrible experience due to out-of-stock, 69% will choose a substitute item after the first OOS occurrence and after 3 out of-stock-occurrences, 70% will switch to a different brand entirely. Potentially, for an $18 product that is OOS, retailers lose an average of $810.

At a high level, the Australian e-commerce market is valued at 62.3B. In 2022, the value out-of-stock issues cost e-commerce merchants 14.33B. At 22%, this is well above the global average of 16.7%.

Under it all, we believe there's systemic supply chain challenges due to the disconnected nature of systems in each level. We've both seen this first hand on our prior experiences. A shared inventory that cuts across retailers and brands could be incredibly useful jump-off point to tackle some of these other problems. Skipped will have the beginnings of a shared inventory. 

Website: https://www.skipped.ai/