Coles booked an unprecedented 13.1 per cent growth in quarterly comparable sales at its major supermarket division but consumers are now changing their shopping habits as they work at home and stay indoors due to coronavirus restrictions.
Coles said supermarket sales revenue for the third quarter rose to $8.23 billion – up 13.8 per cent on the same time last year – as shoppers stockpiled groceries in the face of looming COVID-19 restrictions.
Since the start of April, however, comparable sales growth has broadly trended back towards pre COVID-19 levels.
Easter trading was more subdued this year than prior years due to restrictions on traditional family and friends events and celebrations.
Coles said shoppers were also purchasing less convenience and impulse products and moving towards more cooking and baking from scratch, supported by the success of TV cooking programs such as MasterChef.