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Record sales everyday due to panic buying.

I am very sure you have tens of hundreds of images being sent to you vis Whatsapp. Before the announcement of Movement Restriction Order, many were questioning the need to panic buy and it’s panic buying of toilet papers some more. After the Movement Restriction Order announcement, panic buying continues. Some are condemning the foolish behaviours of these shoppers because supermarkets remain open throughout the periods of 18th to 31st March. Guys, it’s open!

Plus, do we believe that COVID-19 will not spread just because we are shopping? Or that all shoppers are definitely free from COVID-19? The way everyone is willing to queue up along side everyone else to pay, that’s certainly the case yeah. I think by 20th, these panic buying people would have realised that they have spent a lot of money and they will stop buying already. As for the outcomes from their purchases… Read on.

Article in edgeprop.my There were record sales with selected stores in the Klang Valley during the weekend. On Sunday, many were sending in photos of empty shelves in Village Grocer and Tesco Stores. Authenticity of the photos were confirmed by The Food Purveyor, which operates Village Grocer, Ben’s Independent Grocer (B.I.G) and Pasaraya OTK.

The Food Purveyor group executive director Ivan Tan said, “Yes, it is happening in every store of ours. We’re registering record sales every day since Thursday. Suppliers were also caught by surprise. We are unable to cope with the sudden surge in demand.” Popular items include TOILET PAPER, canned food, instant noodles, frozen food like dumplings, pasta and mushrooms. Rice, flour and eggs are also selling fast. Please do read the full Article in edgeprop.my

By the way, do not visit the supermarket for window shopping, not now during the periods of 18 – 31st March 2020. As for their business volume, we need to understand that when people panic buy, it may just be groceries which could last many weeks instead of just days. It does not mean that all these purchases will be fully used up before they decided to buy more in the future. When everyone around you are simply grabbing anything, you may just do the same.

What other companies may be having record sales currently? Rubber gloves… Sanitizers… Masks… Delivery Services too. HappyFresh (yeah, that delivery service app) slots have been fully booked. Tesco Delivery Service too, unless you want them to deliver to you on on the second last day of the current Movement Restriction Order. (As at 330pm yeah. Maybe when you try, the delivery will be after the 31st March…) This is also why the GDP growth will be affected but it would not be prudent to just assume everything based on the tourism industry yeah. We shall talk about GDP predictions in the next article. For now, stay safe, stay home.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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