• Medientyp: E-Artikel
  • Titel: The impact of the COVID-19 pandemic on the expenditures of hellenic supermarket customers spending clusters: An econometric analysis
  • Beteiligte: Daskou, Sofia [Verfasser:in]; Zairis, Antonis [Verfasser:in]; Tserkezos, Dikaios [Verfasser:in]
  • Erschienen: Kavala: International Hellenic University (IHU), 2022
  • Sprache: Englisch
  • DOI: https://doi.org/10.25103/ijbesar.152.07
  • ISSN: 2408-0101
  • Schlagwörter: D12 ; Granger ; Z1 ; Grocery Retail Chain ; C1 ; I1 ; Cointegration ; Consumer spending ; VAR ; COVID-19 pandemic ; Greece
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  • Beschreibung: Purpose: Given the severity and the length of the crisis caused by the COVID-19 pandemic, information on the financial impact of the pandemic becomes useful to enterprises who wish to arm themselves with strategies and policies, designed to combat the effects of similar crises. Such information is particularly useful to grocery retailers, who may need to know the effects of the pandemic on spending behaviour of different spending power classes of consumers. To that end, the study explores the configuration of (supermarket) consumer spending in Greece in relation to the number of: a) reported COVID-19 infections; b) admissions in hospital intensive care units, and: c) number of COVID-19 reported deaths, for the period between February the 26th, 2020 to April 30th, 2021. Design/methodology/approach: Methodologically, the paper focuses on an econometric analysis of daily spending reactions of six distinct spending clusters of consumers of Greek nation -wide supermarket chain, measured against official numbers of COVID-19 related metrics in Greece during the period of February 2020- April 2021. The data used, emerged from daily sales records of a national chain of supermarkets in Greece, consisting of 60 stores. Proven econometric causality techniques were used to analyse the data by applying Hsiao's Optimizing Procedure via the "Stepwise Granger Causality", for the statistical tests of possible interactions between variables. Findings: The study found a phenomenal effect of the number of reported COVID-19 related deaths on consumers' supermarket spending in Greece. The study revealed the statistically significant effects of the COVID-19 variables on the 6 buyers' clusters. These statistically significant effects have a diachronic behaviour which is varied in relation to the covid variables. The findings indicate that the biggest fluctuations in daily consumer reactions (on reported COVID-19 related variables) occurred in lower spending clusters of consumers, diminished over a period of about 15 days. The study also ...
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