Americans increased their visits to supermarkets far more than to Walmart Inc stores as panic-buying peaked in mid-March, a Reuters analysis of foot traffic to retailers in the United States shows.
) stores as panic-buying peaked in mid-March, a Reuters analysis of foot traffic to retailers in the United States shows.
The data offers a snapshot of some of the dramatic changes in Americans’ shopping patterns in the weeks before and after the United States implemented lockdowns intended to curb the spread of coronavirus. “During panic buying time, it was ‘I want to get my groceries, and that’s all I want to do. I want to do it safely, I want to get in and out,’” said Randy Hare, portfolio manager at Huntington Private Bank, which owns shares of Walmart, Costco Wholesale Corp and others. Some shoppers might have concluded that “Walmart is one of the worst places for lines,” he said.Walmart saw an 18% increase in foot traffic from March 13 to March 17 compared to the first week of March, Reuters found.
After that initial surge in visitors, traffic to Walmart and other big box and grocery stores fell in late March and early April, Reuters found. Walmart lost more traffic than most supermarkets, but it still performed better than Target and Amazon.com Inc’s Whole Foods , which saw traffic drop by 26% and 33%, respectively, during the first two weeks of April.Walmart has announced that stores would allow no more than five customers per 1,000 square feet, or roughly 20 percent of store capacity.
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