Retailers move to end panic buying with customer purchasing limits

Retailers move to end panic buying with customer purchasing limits

19.3.2020

Retailers move to end panic buying with customer purchasing limits

The move follows President Ramaphosa announce measures aimed at curbing the spread of Covid-19

18 March 2020 - 05:10 Katharine Child Empty shelves for hand sanitisers are seen at a store in Johannesburg. Picture: MICHELE SPATARI / AFP The Gauteng government has called on retailers to limit the purchases of certain goods following panic buying on Monday after President Cyril Ramaphosa announced measures aimed at curbing the spread of Covid-19. In an attempt to reduce transmission of the pathogen, governments around the world have been encouraging people to self-isolate and work from home, but this has led to bulk-buying of items such as toilet paper, dry foods and sanitizers. By Tuesday, retailers had already put measures in place to stop people buying every roll of toilet paper in stores. The panic buying also gave retail stocks a boost. The JSE food and drug retailers index, which had been down 22% in 2020 to date, notched up a 5% gain on Tuesday, outpacing a 2.67% rise in the broader JSE all-share index. Shoprite gained 13,63%, Woolworths was up 8.25% and Pick n Pay rose 8.63%. "Some people in the market have been seeing the pictures of product lines flying off the shelves, hearing about the inventory shortages that stores are having due to the panic buying and are perhaps seeing it as an opportunity," Lulama Qongqo, an analyst at Mergence Investment Managers, told Bloomberg. On Monday, so many consumers flocked to Strubens’ Valley Makro, West of Johannesburg, that the queue snaked outside the store. Massmart spokesperson Refilwe Boikanyo said that Game and Makro stores were now implementing limits on purchases. "Our trading brands have started enforcing customer purchasing limits. We are very mindful that stockpiling hurts the most vulnerable consumers in our society who don’t have the discretionary income to make large purchases. "We are determined to ensure that we are able to meet their needs, both in terms of merchandise availability and affordability, to coincide with their availability of funds, for example, at month-end." Checkers’s new Sixty 60 delivery app is limiting its deliveries to shoppers in northern Johannesburg and Cape Town to 30 items and three of the same item. Due to increased demand for deliveries, the service is no longer able to deliver within 60 minutes. Pick n Pay has put up signs in its stores saying that it will limit certain items to shoppers to 12 or six of each. David North, group executive: strategy and corporate affairs at Pick n Pay, said:"Where stocks are temporarily low due to heavy customer demand, we have limited purchases per customer. We’re seeing a huge demand for certain sanitizing and long-life products. A sign in a Pick n Pay branch read:"We’ve set a limit of six units per customer on a small number of these products to ensure that we can offer them to everyone who needs them." Pick n Pay introduced a shoppers’ hour exclusively for pensioners from 7am to 8am on Wednesdays. This has a scientific basis as the elderly are most at risk of death or hospitalisation as a result of Covid-19 and need to avoid crowds. Modelling done by Imperial College in London predicted that isolating people who are 70 and older for three months could reduce deaths in the UK 69%. Shoprite conducts special committee meetings every 24 hours to report on supply chain disruptions, increased demand for certain products and responses by the business to the disease. Read more: Business Day

Top retailers coining it in virus panic buyingThe country's top retailers yesterday took full advantage of consumers’ panic buying on escalating fears of the spread of the coronavirus, pushing retail stocks 0.62percent higher to 3787.7points. busrep

Experts weigh in: Will 'elderly hour' prevent pensioners from getting coronavirus?Some retailers opened their doors only to elderly customers but experts debate whether such a move would prevent the vulnerable from contracting the virus.

Toilet paper stockpiling goes wrong as kids throw 18 rolls in the bathSouth Africans are also panic buying due to fear of possible lockdowns due to the coronavirus. Except there's no evidence at all she was 'stockpiling'. They COME in packs of 18, you muppets. T for Tshotsho, serves her right...I wish the kids could also feed the meat to the dogs

Coronavirus panic buying: Call for 'elderly hour' at major retailersA call has gone out to retail stores to institute an “elderly hour” for those vulnerable to the Covid-19 virus, as thousands of shoppers have raided shelves in a panic-buying splurge. coronavirus CapeTimesSA CapeTimesSA PicknPay leads the way with this. CapeTimesSA I have asked this already a few days ago. Pick and Pay has responded positively. Other must follow suite. Our elderly and those with severe health issues is the most vulnerable. So retail outlets show us your loyalty!! COVID19SouthAfrica covid19SA COVID19

Ramaphosa slams panic buying and stockpiling: ‘There is just no need for that’The president has paid tribute to all political parties for wanting to join forces against the disease but he spoke out against all the panic buying that has emptied shelves.

Panic-buying: Twitter says calm down, but folks are gearing up for an apocalypse“If we all shop as we usually do, our stores will soon return to normal and there will not be empty shelves.” It funny that the same people who brought this virus to our country are the one who empty our shops Makgowa kedisatan !!!!!



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