According to a report from a financial institution, panic
buying is starting to decrease and this might be a result of online shopping. The firm released some
figures related to consumer behaviour.
The company is an online bank holding 1.25 million UK
account holders. According to its statistics, two weekends ago, transactions in
supermarkets peaked. However, since then, the numbers have been falling. The institution
advanced that when payments in stores were high, an increase of 15% was
experienced in “comparison to pre-virus levels” but “over the weekend of 21-22
March transaction volumes fell back to levels seen before the crisis”.
The data shows how quickly the UK is turning to e-commerce services in times of need. In
fact, on the 24th of March, operations processed on the Web
surpassed all other forms of spending. This is the first time that this has
happened. Online settlements conducted by the bank’s customers usually make up
less than a third of the total number. However, on the eve of the government
lockdown, e-payments reached 40.4% and after the 24th of
March, it increased to 51.5%.
Another significant point demonstrated in the report shows
how people went in voluntary lockdown before the UK
government decided to implement this measure. Sales in pubs and
restaurants were decreased by 40% in the week before most were closed.
More
people are choosing to buy online
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