Brits overdo coronavirus stockpiling and Chinese retailers struggle

60% of Brits have admitted to stockpiling or panic buying in preparation for the UK going into coronavirus lockdown, according to research by finder.com involving 2,000 people.

The average person spent £57.09 on the likes of toilet roll and pasta. Hand sanitiser appeared to be the hardest item to get.

Dry goods such as pasta and rice were the second most scarce items. Medical supplies such as paracetamol and thermometers were also in low supply, with 23% of Brits experiencing empty shelves when looking to buy them.

The items bought most frequently were canned goods, with three fifths of stockpilers admitting to spending on these products. Next up was toilet paper (56%) and crisps (52%).

Check out the research in full here.

Meanwhile, in China…

Consumer spending within the online retail space in China declined for the eleventh day in a row last Monday, despite claims from the Chinese government that life is getting back to normal in the country after its Covid-19 lockdown.

Shops have reopened, but consumer spending online in retail dipped 64% year-on-year on 30th March - a situation worse than other countries currently under lockdown, including the UK, Italy and parts of the US.

These trends were identified by Covid-19 Commerce Insight, a joint project between Emarsys and GoodData. Alex Timlin, Senior VP of Verticals at Emarsys, says: “While we’re seeing the number of medical cases of coronavirus reportedly flatline in China, the economic impact of Covid-19 in the region is still deteriorating.”

“It’s important to note that these figures are year-on-year comparisons, and while some may argue that online sales are going down because people are buying offline again, that’s not what this data shows.”

“Our data shows that compared to this time last year, consumer confidence in China is still significantly low, as indicated by the declining revenue in the online retail industry.”