UK Supermarkets See 22% Increase in Sales Due to Coronavirus Fears
- UK grocery sales increased by 22% compared to the same period in 2019
- Additional £467m spent on groceries in March
- Stockpiling of household and pet care items saw a 65% increase
- Ambient groceries sales up by 62%
- Health, beauty, toiletries, and babycare items rose by 46%
- Frozen food sales increased by 33%
- Beer, wine, and spirits sales surged by 11%
- Impulse snacking items saw an 18% increase
According to Nielsen data, UK supermarket sales during the week ending 14 March experienced a significant rise of over 22% compared to the same period in 2019, equating to an additional £467m spent on groceries. This increase is attributed to consumers stockpiling amid health concerns surrounding COVID-19. Household and pet care items saw the largest sales jump (65%) followed by ambient groceries (62%), health, beauty, toiletries, and babycare products (46%). Frozen food sales also surged (33%) and beer, wine, and spirits experienced a 11% increase. Impulse snacking items saw an 18% rise. Mike Watkins of Nielsen stated that retailers are under pressure to maintain supply chains but expect further measures to keep shelves stocked.
Factuality Level: 10
Factuality Justification: The article provides accurate information from Nielsen data on grocery sales during the week ending 14 March, with clear explanations and quotes from an expert in the field. It presents relevant facts and figures without any apparent bias or misleading statements.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in grocery sales during the COVID-19 pandemic, but it does not offer any new insights or analysis beyond reporting the data from Nielsen. It lacks a deeper exploration of the reasons behind the trend and does not provide actionable solutions or knowledge that the reader can apply.
Financial Relevance: Yes
Financial Markets Impacted: UK supermarkets and related industries
Financial Rating Justification: The article discusses a significant increase in grocery sales due to stockpiling amid health fears, which impacts the financial performance of UK supermarkets and related industries.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but the article discusses increased grocery sales due to health fears around COVID-19 pandemic.
www.retailsector.co.uk