Reality bites – latest Corona figures on how Covid-19 affects the Swedish economy
maj 8, 2020
Following our quick pulse survey week 14, we again in week 18 asked our Swedish customers how they were impacted by the Covid-19 situation. At Unifaun, with a broad share of Swedish companies across the economy using our systems for managing shipments of goods, we took the opportunity to gain a unique insight from a logistics and goods flow perspective.
We asked our customers a simple question again in week 18: What is the effect on sales (due to covid 19) in the last week vs your plan?
Based on almost 500 companies and governmental functions responding there were some interesting insights,
- 43% of eCommerce companies have increased orders vs only 25% week 14
- Omnichannel and B2B companies saw significant declines;
- 45% of B2B companies indicated a sales decline of 25% or more up from 31% in week 14
- 48% of omnichannel clients indicated a sales decline of more than 25% up from 39% in week 14, though still 15% of clients still saw an increase of 10% of more
“As expected once diving into the details, there was a significant shift in demand across different segments. It has turned out to be a polarized shift in sentiment either up or down. In ecommerce most segments caught up and there is broad based increase in demand across all categories, following the trend we already saw a couple of weeks ago in Denmark, and other European markets. However, reality bites as both omnichannel retailers and B2B saw significant declines in demands and the sentiment is pretty negative. This is consistent with Unifaun shipment data where B2B has mid-to-high single digit decline in absolute numbers vs last year, whereas B2C has increased its growth trend with 5-10 additional percentage points”, Andreas Randel, Chief Growth Officer, sums up.
“Also interesting is that the reaction pattern followed the two last economic declines in Sweden, a relatively slow reaction at first, and then eventually both companies and consumers adapt. This is in sharp contrast to Denmark where companies drastically adapted both inbound and outbound goods flows very quickly in the last two economic declines, whereas the same absolute reaction took a few months in Sweden”