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Coles says shopping habits are returning to normal

Gerard Cockburn NCA NewsWire
Coles says shopping habits are returning to normal. Supplied
Camera IconColes says shopping habits are returning to normal. Supplied Credit: News Regional Media

Supermarket giant Coles says consumer buying patterns have started to normalise from the rampant hoarding that occurred during the coronavirus pandemic.

Releasing its third quarter sales results for the 2021 financial year, Coles said customers were starting to return to regular shopping habits of frequent visits and the big shop occurring on Sundays.

“Early signs of normalising consumer behaviour were observed, including improved transaction growth, a recovery of COVID-19 impacted categories such as impulse, convenience and food-to-go, Sunday returning to be the busiest trading day of the week and positive indicators of the unwind of local shopping as customers returned to shopping centres and CBD stores,” Coles said in its update.

WOOLIES COLES
Camera IconColes says shoppers are returning to shopping centres and CBD stores. NCA NewsWire / David Geraghty Credit: News Corp Australia

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The retailer also noted store numbers at shopping centres and CBD locations had improved.

Supermarket sales revenue for the period was $7.7bn, a 6.1 per cent decrease on the same quarter last year.

The reported decrease reflects the heightened panic buying that occurred at the onset of the coronavirus pandemic, which significantly elevated supermarket sales for essential products.

Compared with two years ago, revenue for the quarter was up 6.7 per cent.

“I am pleased to be reporting ongoing successful execution of our refreshed strategy, continued support of communities in need, including those impacted by the NSW floods, and the beginnings of a return to normality for Australians’ everyday lives,” Coles chief executive Steve Cain said in a statement.

New Coles super store
Camera IconColes chief executive Steven Cain said normality was returning to Australians’ everyday lives. Andrew Henshaw Credit: News Corp Australia

Coles during the period completed 18 renewals of existing stores and increased its network by one additional premise.

The company noted its own branded food items continued to deliver value, with 260 new products launched during the quarter.

Liquor sales revenue during the period rose 2.6 per cent to $759m, with spirits and ready-to-drink products the main drivers for growth.

Coles Express recorded a 7.4 per cent increase in sales revenue.

“Sales growth was driven by core convenience categories, such as food-to-go, drinks and confectionery,” the company said.

Originally published as Coles says shopping habits are returning to normal

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