Who can forget those early days of the pandemic when no-one really knew what was coming, where we’d end up or what we might need to get our hands on along the way?
The panic buying started in earnest very quickly; we were all running to the shelves for essential items such as toilet roll, hand sanitizer and flour for all that baking we must have suddenly thought we needed to do!
Then came the slightly more extravagant ‘must have’s’; there were the home entertainment systems, the gym equipment (we had to recover from that baking binge) and board games (things were starting to get a little boring during lockdown) – anything, it seems, to keep us entertained within our four walls.
As we all settled into our new normal and realised that there was plenty toilet roll and baking soda to go around, consumers’ attention then turned to more unusual supplies to get them through.
Here’s some of the stranger things that have seen a peak in demand over recent months!
- Roller Skates. Many found lockdown the perfect time to master something new and roller skating was it. Any excuse to leave the house! One popular manufacturer even opened a second factory to keep up with demand…promptly running out and forcing people online to find pre-loved boots.
- Bidets. Yep, that’s right. When the empty loo roll shelves hit the front pages, those that could, washed. Sales of that hotel favourite increased ten-fold at the height of the pandemic.
- Sewing Machines. Serving a dual purpose of providing a brand-new lockdown hobby for thousands, lots of enthusiastic haberdashers also found comfort in making face masks for those on the front line.
- Super Yachts. For those at the narrow end of the wealth spectrum, sales of super yachts also soared. The super-rich were looking for somewhere to stow away to ride out the storm in true luxury.
- Nappies. Admittedly not that weird a product but a strange thing to increase so dramatically in demand considering that contrary to predictions, we all haven’t been making babies during lockdown. A true panic purchase as parents fought against getting caught short and supermarkets limiting purchases at one point.
Whilst entirely unpredictable in so many ways, the COVID-19 pandemic gave us all a valuable reminder of the importance of understanding buying trends to help inform procurement and stock decisions. By truly understanding the ebb and flow of your product sales through strong stocktaking practices, businesses can be prepared well in advance to meet demand and better placed to take advantage of unusual spikes in demand where possible.
Give us a call today 01637 874609 or visit https://www.abacusvaluers.co.uk/our-stocktaking-services to see how we can help you get to grip with your stocktaking.