Watcom shopping index remains stable, but still down by a quarter on last year

Watcom shopping index remains stable, but still down by a quarter on last year
The Watcom shopping index remained stable in March, but is still down by a quarter from a year ago just before the effects of the pandemic hit.
By bne IntelliNews March 28, 2021

The Watcom Shopping index remained stable in March but remains down by a quarter on the same month a year earlier.

The index posted a figure of 402 in the ninth week of year, down from 492 in the same week a year earlier – then the index’s highest value in two years – before the coronavirus (COVID-19) pandemic caused a nationwide lockdown and caused foot traffic to crash.

However, as March wore on into weeks 10 and 11 the index fell to 365 and 372 respectively as third wave fears spooked consumers. The results in April will dramatically change, as in April 2020 when the lockdowns were imposed, sending the index plummeting to an all-time low of 275 in week 13 from 411 the week before.

 

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