Analytics, Covid-19, Latvia, Markets and Companies, Retail

Almost 45% of the public try to visit stores less frequently, while the number of people shopping in online stores has almost tripled in the past six months from 3.5% to 9%. A significant number of shoppers (13%) continues to top up their stocks of non-perishable products.  

Statistics from the Maxima Retail Compass survey also show several other trend changes due to Covid-19. Compared with consumer activity this spring (0.7%), home delivery of prepared meals has grown to 4% this autumn, while one in ten –11% – of those surveyed have started purchasing disinfectant products this autumn, compared to half as many in March, just 6%.

“The results of the survey allow us to keep up with changes in society’s shopping habits as people gradually adapt to the new normal. This is not just impacted by safety measures or a more active use of remote services; the situation is impacted greatly by people’s financial situation. The respondents’ own perceptions indicate that around one third of people, or 30%, have seen a reduction in their income, which is a significant decrease within the past three years,” explains Jeļena Popjonoka, Director of Business Analytics at Maxima Latvija.

This situation has had a negative impact on people’s purchasing power and increased caution in spending. Bearing in mind their decrease in income, most respondents – around 60% – are more careful in planning their expenses, not only reconsidering larger purchases within the next year (51%), but also consuming fewer everyday products (44%), as they are not certain about the economic situation and their income. During this complicated economic situation, a VAT reduction on fresh produce would be a practical support step to promote the consumption of a varied, healthy diet for everyone in Latvia. Maxima Latvija will continue to campaign for a VAT reduction on several popular product groups and promote the implementation of this initiative.