At the same time, online sales grew by more than 30%
In April, clothing prices in the United States were 12% below the March level, which is comparable to the Christmas discount report Interfax With reference to the American publication Marketwatch.
It is noted that this was the highest decline in the last five years due to the impact of the coronavirus outbreak on retail sales. The average price decrease in April was 2.9% compared to the previous month.
According to the Adobe Digital Economy, the decline in clothing prices is comparable to the discount level on Black Friday. At the same time, online sales grew by 34%.
According to a study by Wells Fargo & Company, more than 70% of consumers will not shop at regular stores for long. Electronic commerce penetrations can increase up to 30% from 25% recorded before an outbreak of coronavirus. Three quarters of shoppers will spend less in shops than before the epidemic.
According to Wells Fargo analysts, previously purchased behavior is unlikely to recover before Christmas.
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Earlier, we wrote that, according to the NBU inflation report, the growth of the national currency does not affect inflation as much as the weakening of the hryvnia. The National Bank made such findings based on the observation of inflation in the period January 2014 to December 2019.
Over an estimated period of time, the hryvnia both fell and rose (growth in 2019), which made it possible to determine the pattern of its effect on inflation. A devaluation of one percent leads to a 0.22% increase in consumer prices. But as a result of the revaluation of one percent, prices are reduced by 0.08%. After 6 months the effect is almost entirely noticeable.
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