Tens of thousands of stores and restaurants, from Walmart to Waffle House, closed earlier than usual over the weekend due to Winter Storm Fern, though some were already reopening on Monday.
The impact on the retail industry won’t be catastrophic since last weekend was not a major selling period, with Valentine’s Day still three weeks away. Also, many shoppers would have stayed home anyway to watch the National Football League playoffs Sunday.
Still, there will be significant losses on non-essentials like luxury goods, sportswear, home products, beauty, and from a lack of dining out. Mass merchants, department and convenience stores would make up some of the shortfall, with consumers stocking up ahead of the storm on essentials like food, water and batteries, along with melting salt, shovels, coats and winter accessories. Grocery stores experienced some empty shelves last week due to “panic shopping” by many consumers. And there were reports that retailers were jacking up prices ahead of the storm, on boots, sidewalk salt and space heaters, among other items. . . .
Planalytics, a firm that helps retailers plan their inventories based on weather forecasting and climate changes, indicated that Fern’s “winter mindset” for consumers continues, particularly with daytime highs struggling to cross the freezing mark, and arctic temperatures sticking around through Sunday. More snowfall is expected that day. The severe weather will continue to drive sustained demand for consumables like ice melt, rock salt, and windshield fluid, Planalytics noted.
“Expect these to shift from ‘one-time prep’ items to frequent replenishment needs. In addition, demand will increase for need-based categories such as auto batteries, pipe wrap, and window insulation kits.”
Stores selling apparel do have something to look forward to. Planalytics said the prolonged cold is triggering “a second wind for sales of heavy outerwear, thermals, boots, and cold-weather accessories. Nesting categories like soups, hot beverages, and home heating supplies will also see increases, while early-spring transitions, such as patio furniture and lightweight apparel will see a significant chill,” Planalytics indicated.
Planalytics also reported that in regions hit by the storm, demand for heaters, blankets, ice melt, shovels, scrapers, boots, outerwear, gloves, hand warmers, and other need-based items were up 50 percent to 500 percent above normal at local levels, depending on the item.
Demand for emergency supplies such as flashlights, batteries, gasoline, power banks/generators, and canned foods rose 50 percent to 150 percent above normal at local levels. Demand for food/consumables including canned goods, milk, bread, eggs, salty snacks and pet food rose 10 percent to over 50 percent above normal at local levels. . . .
