Having recently announced the launch of its Lifeline Fund, which offers extended credit terms to help retailers during the Covid-19 crisis, Vital Pet Group has issued some more help for its customers.
The company said that it feels that panic buying has apparently peaked (unless other announcements provoke a second wave). It says that by next week, the after effects will have largely been handled, although sales volumes remain high.
Heather McManus, Vital’s sales and marketing director, said that some suppliers have closed their doors in order to protect staff, while some are concentrating on a smaller core range that is easier to manage around social distancing and staff absence.
“This has affected supply and will continue to do so while the country is in lockdown,” Ms McManus said.
Vital is also alerting retailers to news that some promotions are likely to be withdrawn.
She added: “Suppliers are finding that some promotions are not viable due to range limitations and others that promote bulk buying don’t seem responsible in the current environment. It means an abbreviated promotional calendar, although obviously we’ll do our best to continue to offer promotions that help build retailer margins.”
Ms McManus said that the Vital team has spotted a big surge in sales of accessories products. “Although background sales of staples remains strong, customers have switched their attention from the panic buying of food, to products that help them make it through the period of isolation,” she said.
The company has produced a retailer survival guide, where it has gathered together some hints and tips to inspire retailers to adapt to the current environment. It can be found HERE.