Source: https://huq.io/indicators/italys-consumer-sector-is-the-first-is-to-re-gain-pre-lockdown-levels/
Footfall across consumer settings in Italy has continued its dramatic rise over the last week, making it the first country to see activity levels climb to those inline with – or in excess of – pre-lockdown levels. Every country covered by Huq’s ‘All Consumer’ Indicator has an increase in the last two weeks, however the UK remains bottom of the league in terms of footfall across consumer outlets.
The Indicator, which measures daily physical consumer presence with all stores and settings within the sector, revealed a pronounced drop in footfall across Europe in March – reaching levels around a third of their normal rate. But as countries emerge from lockdown at different times and with different policies in place, the shape of recovery from country to country as been highly differentiated.
Italy has observed the most dramatic increase from lockdown levels, with footfall across all consumer settings rising from 65% of January levels up to 123% in just eight days (22 June – 1 July). Alongside Italy, the US has reached 83 percent of previous lockdown levels, followed by Australia (60%). The UK has the slowest rate of recovery among its peers, reaching just 55% of January levels in the same period.
This data raises questions as to why economic consumer recovery is so different across different parts of the world. Why is Italy seeing such a sharp increase while other European counterparts remain subdued? Analysis from the Economist shows that countries that went into lockdown fastest contained the disease most effectively. This could offer clues as to why Italy appears to be experience the fastest recovery in terms of presence.
With parts of the UK’s hospitality sector re-opening from tomorrow, and signs from Italy that re-openings have proved extremely popular, further analysis of Huq’s Indicators will reveal how pent-up demand could translate into economic activity.
To learn more about the data behind this article and what Huq has to offer, visit https://huq.io/.
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