Consumers are spending more on groceries for two reasons:
– Because less frequent visits haven’t stunted the need for groceries. People are stocking up.
– Eating out is on the decline as more people opt to prepare meals at home.
Small and medium-sized businesses have felt the telegram data biggest impact locally as many have had to close their doors or experienced a loss of revenue/customers since the start of the pandemic.
Many may not survive as they operate on thin margins in communities that are concerned about coronavirus.
eCommerce: CPG
Source: Nielsen
In May 2020, CPG eCommerce dollar share grew by 4% YoY as coronavirus drove more consumers to shop online.
Commercial Real Estate
Source: Colliers International
Commercial real estate is in the midst of a downturn as people flee from offices, hotels, and malls.
Hawke Media is not exempt, as coronavirus restrictions came, went, and came again we shut down our office to ensure the safety and security of our team. We have switched to a completely remote model until restrictions are lifted and it’s safe to return and we can restructure our physical space to our new reality and current needs.
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