Fears of the current pandemic has resulted in a drastic
change in customer behaviour. According to statistics, British consumers made nearly
80m extra grocery shopping trips in
March as they started panic buying. This is almost £2bn more on food and household
expenditures than in 2019.
The market analyst Nielsen
has released a report demonstrating that the income of supermarkets in the
UK has increased by over 20% during the key four-week period from 24 February
to 21 March. There was a significant leap of 43% in the week ending 21 March.
This was before supermarkets and other stores introduced security measures
such as the restricting the number of shoppers in the outlet to ensure physical
distancing.
When consumers started panic buying, each buyer made three
additional trips to the stores. This equals to 79m more visits and an extra £1.9bn
on groceries than during the same period last year. Speaking about this
situation, Mike Watkins, UK head of retailer and business insight at Nielsen
advanced that, “With households making almost three extra shopping trips in the
last four weeks, this small change in individual shopping behaviour has led to
a seismic shift in overall shopping patterns”. The findings of Nielsen
are supported by data from other rival firms which also demonstrates a rise.
There
was an increase in grocery shopping trips in March
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