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New study reveals Britons are spending an extra £361m a week in supermarkets thanks to panic buying

A new study has revealed that Britons are spending an extra £361m a week in supermarkets as panic buying grips the UK. 

Published: March 26, 2020
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With empty shelves in UK supermarkets a common sight over the past couple of weeks, the government has now warned shoppers to only buy what they need, following shortages caused by panic buying.

But now a study by Blacktower Financial Management Group (BFMG) on how much extra UK households spent has revealed that so far, during the pandemic, UK households are spending an extra £13 a week, based on the average weekly food bill of £60.60.

As new government rules have been implemented in the UK over the past few days, consumers are being strongly advised to stay at home and only leave for essential purposes, resulting in a shift in consumer behaviour to online shopping.

The study also found that so far Brits have increased online spending by 25.5 per cent during the coronavirus outbreak.

John Westwood, founder of Blacktower said: “Supermarkets and a range of e-commerce retailers have been overwhelmed by increased purchasing because of panic buying amid the coronavirus outbreak. During this unsettling time retailers need to ensure food and supplies are well stocked in order to meet with consumer demand.”

Driven by a passion for all things drinks-related, Sean writes for The Scotsman extensively on the subject. He can also sometimes be found behind the bar at the world famous Potstill bar in Glasgow where he continues to enhance his whisky knowledge built up over 10 years advising customers from all over the world on the wonders of our national drink. Recently, his first book was published. Dubbed Gin Galore, it explores Scotland's best gins and the stories behind those that make them.

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