If you’re wondering how the coronavirus crisis is impacting the economy, one view is to examine what products consumers are purchasing and which ones are in decline. A recent study of consumer online purchasing habits provided an interesting perspective.
There are some obvious winners; for example, rubber glove sales are up 670%. Other products selling well are soups, packaged food, fruit cups, and milk. However, some consumer products are not faring as well. Sales of luggage is down 77%, while bridal clothing is down 63%. Swimwear and camera sales have dropped 60% and 64% respectively. Auto dealers experienced their worst sales records for decades last month, with Toyota reporting a 54% drop in April.
There have been a few surprises in all of this. Home bread machines have experienced a resurgence in popularity with their sales increasing 652%. Consequently, baker’s yeast has been one of the most sought after commodities at supermarkets. Sales of chest freezers have soared with many retailers selling out and placing items on back order. Walmart even reports an increase in the sales of tops (not bottoms) as an increase in virtual meetings has people improving only half their wardrobe.
Reporting for WGRT – Marty Doorn
