BHETA’s economic snapshot data collated in July show an upturn in retail sales of 12% across the board, including a strong increase in sales of household goods at 42%. Manufacturing production rose slightly for the first time in four months and gross domestic product (GDP) grew by 1.8% in May, albeit following two months of record falls.
The statistics reflect two significant shifts in consumer focus. The first is renewed significance of home-related projects such as home baking, which is more than just a consequence of enforced cooking and eating in. According to Google Trends, interest in baking reached 500% growth in March and while it has since declined as a search term, it is still about double the pre-Covid rate and the step-change in UK searches for mixing bowls and baking trays continues.
The other significant economic outcome of the crisis is the considerable increase in pace of the switch from shops to websites. In both cases, and according to another of BHETA’s data partners, GlobalData, these trends are likely to continue.