Aussies Move to DIY08 April 2020 by News Desk
DIY has never been more popular Down Under. Australians have hit peak in toilet paper hoarding and are now buying alcohol, DIY goods and home office equipment in preparation for months of lockdown.
Data compiled by both the ANZ and Commonwealth Bank suggest the worst of the surge in shoppers clearing out the tinned tomatoes and pasta aisles of supermarkets may be over.
The ANZ found that during the first panic buying surge spending on groceries and toiletries was 80 per cent up on the same period last year. But by end of March, growth had “moderated” to only be 46 per cent higher.
The survey results suggest that the average household is either stocked up already or is now less concerned about supply chain issues for essential household items.
DIY High On Shopping Lists
The Commonwealth Bank found spending on alcohol soared to be 86 per cent higher compared to the same period last year. There had also been a 26 per cent jump in household furnishings and equipment.
“It looks like a significant proportion of households plan to do some DIY work, maintenance and repairs around the house over the enforced shutdown period,” senior CBA economist Gareth Aird said.
The ANZ also observed a 29 per cent jump in hardware, building and garden supplies in a sign people are preparing to use their self-isolation to engage in some work around the backyard deck and vegetable patch.
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