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Coffee, ketchup and Nike Air Max: it's the COVID consumer economy

It's the COVID consumer economy

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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covid-consumer

[01 September, Reuters]

Assistant professor of economics at Northwestern University Piotr Dworczak said the Covid-19 crisis has completely changed consumer behaviours. Based on analysis of a varied basket of goods, Reuters showed the new trend of working from home due to Covid-19 has triggered many changes in the consumer model across industries from clothing to food, according to retail specialists. The combined effects of rising demand for certain items such as coffee and disrupted global supply chain have driven up prices.  Work and home spending such as instant coffee, eggs and ketchup increased significantly compared to a year ago in America.

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