APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    The Impact of Panic Shopping on the Retail Sector

    The increase in demand for a few products was compensated by the fall in demand for the others. Essentials like toilet paper ad home office accessories were increasingly in demand, while spending on clothing and footwear declined rapidly  

    The Impact of Panic Shopping on the Retail Sector

    By

    Apac CIOOutlook | Friday, June 19, 2020

    Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

    The increase in demand for a few products was compensated by the fall in demand for the others. Essentials like toilet paper ad home office accessories were increasingly in demand, while spending on clothing and footwear declined rapidly

    Fremont, CA: The offset of the COVID-19 pandemic brought about a lot of changes to business and daily lives. The commencement of lockdown in different parts of the world took place over multiple stages. Multiple strategies were deployed by governing bodies to control the spread of the virus. However, one thing that was common across the world was panic shopping. People stocked up excessively large quantities of groceries and essential supplies, fearing it may run out midway during the lockdown. In many areas, there was an acute shortage of toilet paper.

    As a result of this trend, retailers experienced profits and higher sales than before. In Australia, the supermarkets rode a panic buying wave as they recorded a 22.6 percent increase in their turnover from last year. This also helped to push the overall retail activity by 8 percent, the largest monthly growth recorded. However, the increased spending rates did not last very long. The difference between the growth in total spending and the food and alcohol sub-category suggested that discretionary spending has been severely impacted by the social distancing measures.

    The increase in demand for a few products was compensated by the fall in demand for the others. Essentials like toilet paper and home office accessories were increasingly in demand, while spending on clothing and footwear declined rapidly. As relaxation rules become applicable, the increased spending rates are likely to subsidize even further. Households are now at the end of a stock up spending period, which means purchases will be steady. Also, reduced working hours, wage cuts, layoffs, and various other cost reduction measures are going to have an impact on the market.

    Another factor affecting the spending structure will be family incomes. Unlike earlier, many families will earn much lesser and will be forced to spend each penny wisely. The resulting fall in wages, paired with rising unemployment, is likely to hit retailers ever harder in the coming months.

    See also: Top Retail Tech Startups

    More in News

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Enhancing Customer Satisfaction through Omni-Channel Payments

    Enhancing Customer Satisfaction through Omni-Channel Payments

    AI's Role in Apac's Digital Transformation Journey

    AI's Role in Apac's Digital Transformation Journey

    Influence of AI on Supply Chain Management

    Influence of AI on Supply Chain Management

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/the-impact-of-panic-shopping-on-the-retail-sector-nwid-7528.html