New Study Reveals Permanent Change in Shopping Habits

  • 17.2 million UK consumers plan to make permanent changes to their shopping habits due to Covid-19 concerns
  • Research by Alvarez & Marsal and Retail Economics based on a survey of 6,000 consumers across six European countries
  • Online retail sales in the UK estimated to increase by £4.5bn in 2020
  • Retailers need to adapt their operating models and channel mix to meet new shopper demands

A study by Alvarez & Marsal and Retail Economics reveals that 17.2 million UK consumers plan to make permanent changes to their shopping habits due to Covid-19 concerns, with online retail sales estimated to increase by £4.5bn in 2020. The research is based on a survey of 6,000 consumers across six European countries. Consumers who perceive high risk of contracting the virus are almost four times more likely to shift their habits. Retailers must adapt their operating models and channel mix to meet new shopper demands.

Factuality Level: 8
Factuality Justification: The article provides accurate information based on a survey of 6,000 consumers across six European countries and quotes from experts in the field. It discusses the impact of Covid-19 on shopping habits and the potential increase in online retail sales. The article also highlights the challenges faced by retailers with large store footprints and the need for collaboration between retailers and landlords.
Noise Level: 4
Noise Justification: The article provides relevant information about the shift in consumer behavior due to Covid-19 and its impact on online shopping habits. It also includes insights from experts in the field. However, it could benefit from more detailed analysis of the long-term trends and potential consequences for retailers and landlords.
Financial Relevance: Yes
Financial Markets Impacted: The increase in online retail sales impacts e-commerce companies and brick-and-mortar stores with large rent agreements.
Financial Rating Justification: This article discusses the shift in consumer behavior due to Covid-19, leading to an estimated £4.5bn increase in online retail sales in the UK. This change affects both e-commerce companies and physical store businesses with high rental costs.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses the impact of Covid-19 pandemic on consumer behavior and retail industry, but it does not mention any extreme event in the last 48 hours. The changes mentioned are due to the ongoing pandemic, which is a health crisis.

Reported publicly: www.retailsector.co.uk