May 21, 2020 /
Comments Off on Why did retail numbers have an 18% COVID drop?

Why did retail numbers have an 18% COVID drop?

Why did Australian retail sales drop 18% in March?

The pantry peak and toilet paper peaks have passed.

There’s not much left to buy. But there’s something else going on. There’s a total lack of confidence.

As I described to John Stanley on radio 2GB (below), our research shows that 64% of Australians are nervous about visiting crowded spaces.

Those states with the most COVID cases have the lowest confidence.

For example, 89% of Tasmanians (where there was a significant outbreak) are not confident in public places (stores).

Where are they going? Online.

37% of people will now shop more online due to COVID and it’s more pronounced with big spenders.

Those earning over $150K p.a. are now 52% more likely to spend more online.

How do you win back confidence?

Yes you need good processes, but if you have a store, you need to ensure you are operationally COVIFSafe. Customers will visit if they feel safe, that means following processes.

Our mystery shopping work has never been more important.

Catch the radio interview below.