Tesco reports panic buying has "subsided" after 30% sales increase

A UK supermarket has reported that customer patterns are returning to normal after a period of panic buying.

Tesco announced today that after several weeks of panic buying, it is experiencing “more normal sales volumes”.

The company had seen a 30 per cent uplift in sales during the first weeks of the lockdown.

It also reported in today’s statement that although it has expanded its home delivery capabilities, 85 per cent of all purchases will still need to be made in store.

Over the last two weeks, Tesco has recruited more than 45,000 new employees to help offset worker illness and increased sales volumes.

Dave Lewis, chief executive of Tesco, commented: “COVID-19 has shown how critical the food supply chain is to the UK and I’m very proud of the way Tesco, as indeed the whole UK food industry, has stepped forward.

“In this time of crisis we have focused on four things; food for all, safety for everyone, supporting our colleagues and supporting our communities.

“Initial panic buying has subsided and service levels are returning to normal.

“There are significant extra costs in feeding the nation at the moment but these are partially offset by the UK Business rates relief.

“Tesco is a business that rises to a challenge and this will be no different.

“I would like to thank colleagues for their unbelievable commitment and customers for their help and understanding. Together, we can do this.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →