Supermarkets See Record Growth as Consumers Stockpile and Shift to Online Shopping
- UK supermarket sales surge by 20.5% amid Covid-19 outbreak
- 79 million extra grocery shopping trips made in four weeks
- Weekly sales growth of 43% in the week ending 21 March
- Focus on stockpiling necessities, then shifting to lifestyle items
- Frozen food sales up by 84%
- Online grocery sales increase by 14%
- Two in ten households shop online for groceries
British consumers made over 79 million extra grocery shopping trips in the last four weeks, with total till sales at supermarkets surging by 20.5%, according to Nielsen data. The week ending 21 March saw a massive 43% weekly growth in sales due to increased stockpiling amid health fears around Covid-19. In the last week of February and the first week of March, shoppers focused on necessities like medicines, cleaning supplies, pet care items, and ambient groceries. This trend continued into the third week as they filled their freezers with frozen food sales rising by 84% compared to the same period last year. The government’s closure announcement of pubs and restaurants led to a surge in beer, wine, and spirits sales (67%). All UK supermarkets experienced significant growth over the four-week period. Online grocery sales increased by 14%, with two in ten households shopping online. However, limited warehouse capacity and delivery slots may hinder further growth.
Factuality Level: 8
Factuality Justification: The article provides accurate information from Nielsen data on the increase in grocery sales and consumer behavior during the COVID-19 pandemic, with relevant details about specific categories and retailers. It also includes a quote from an expert to support its claims.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of COVID-19 on UK grocery sales and consumer behavior, with data from Nielsen to support its claims. It also offers insights into changing shopping patterns during the pandemic. However, it could have explored more topics related to the long-term trends or consequences of these changes.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the impact on supermarkets and online grocery sales due to increased demand caused by the COVID-19 pandemic, which can affect their financial performance and stock prices.
Financial Rating Justification: The article focuses on the increase in grocery sales and online shopping trends as a result of the pandemic, which has an effect on the financial performance of supermarket companies and may impact their stocks.
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 and shopping behavior due to health fears around Covid-19 pandemic.
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