On account of the lockdown, retailers have faced a sharp decline in the last week of March across all channels, by posting double-digit growth in the first weeks, reported by data analytics firm Nielsen in a report. During the lockdown, all choking off supply lines has started. The retailers went through the lack of availability of manpower to run the store due to lack of transport, police restrictions and fear of the virus.
Nielsen reported ‘COVID-19’s impact on FMCG and retail also says that E-commerce would be a large role in the FMCG market post-COVID-19 crisis and most of the businesses are working in that direction only. In this case, online offerings and tech-based enablers will grow and the majority of the corporate is now supporting more focus on e-com for the upcoming months.
“Consumers will be bearish on discretionary spends in the upcoming months,” said Nielsen. However, consumer’s focus on health and hygiene facets and financial securities may be embedded in future behavior shifts.
This will be a situation and it will go ahead. Of course, there would be ‘new normals’ which would be created whereas weekly analysis of FMCG sales. Nielsen said that retailers have reported a growth of 0 percent in the ending March 22. however, it reported a dip of 8 percent in the week of ended March 29 as compared to the same week of the previous year.
As per the survey by Nielsen in the lockdown times between April 10 to 14, “39 percent consumers stated that they will increase online shopping by more than 20 percent post-COVID situation.” certain online aggregators are diversifying to meet current consumer needs and FMCG companies have partnered several of them to deliver at their doors.