The Changing Consumer Spending Patterns In The UK Due To COVID-19
The coronavirus outbreak that started in Wuhan, China, very quickly spread across the globe. The virus, now called COVID-19, reached the UK in late January of 2020. With the number of cases going higher, the UK Prime Minister, Boris Johnson, ordered all the restaurants, pubs, and cafés, along with places like movie theatres, to shut down temporarily. In March, the Prime Minister announced a complete lockdown in the country, allowing only the essential stores to remain open, strictly following the prescribed guidelines.
- Uncertainties bringing new trends
The announcement of the lockdown brought an unusual trend of hoarding by the consumers. Toilet-roll stockpiling became the most talked-about event amidst the pandemic. People started getting ready to stay locked-up in their homes for an uncertain period. About 50 million people dine out every year in the UK. The closure of dining spaces made people feel the need for stockpiling groceries and food supplies to cook delicious meals for themselves. Food supply stores experienced an increase of about 52% sales.
Thinking that, in the long run, staying indoors may become monotonous and lonely, many people chose to adopt pets to keep themselves occupied. It gave rise to an increase in the sales of pet supplies by 50%. The pet owners hoarded on dog-food, in case they were unable to step outside amidst the lockdown. Who would ever want to run out of food for their pets?
- The UK tending the gardens
Humans are social beings, and so, social distancing is a tough thing to do. But luckily, with complete lockdown came a lot of free time as well. Everybody needs a breath of fresh air, so the people of the UK started going back to their gardens to enjoy a walk in the sun. It led to an increased sale percentage of gardening supplies in the country.
- Keeping idleness away
The people prepared for an uncertain span of self-isolation and helped increase sales of home and stationery supplies by more than 45%. Also, to keep fit, the British people invested in bicycles as the Prime Minister allowed them one outing everyday. The bike shops witnessed a 24% increase in sales.
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COVID-19 has impacted consumer spending habits, and therefore, in turn, the businesses. For a business to persist in the long run, it has to try to contain the spread of coronavirus. But the spreading of COVID-19 can only be stopped if we maintain proper social distance. So, it is necessary that every business now uses a modern-day card machine and offers better contactless payment options to the consumers to live through these hard times. Choose Pay2Day and embark on your journey towards being contactless!