Uno data dives into market shift
East Perth-based Uno Group is publishing online bi-weekly updates on consumer trends during the COVID-19 pandemic in an effort to help businesses deal with the hardships brought on by measures to contain the virus.
The research and analytics firm, which was founded in 2018 by Brenda Lai and Tyler Spooner, regularly monitors consumer behaviour through its itemised receipt capture technology, feeding back trends to its partnered retailers and restaurants.
Mr Spooner told Business News the idea to publish consumer trends during the pandemic arose because the company wanted to help retailers and restaurants struggling to adapt to a rapidly changing market.
“We’re going to keep tracking and release more online figures and do stuff around how consumers feel this is all being handled,” Mr Spooner said.
“We didn’t know how to help, and we wanted to help, and thought this was how we could do it.”
While some findings, such as declining demand at restaurants, have been expected, Mr Spooner said the data collected through receipt capture suggested complex issues across industry.
For instance he said many retailers were experiencing unprecedented demand from customers, with panic buying in particular putting enormous strain on logistical operations.
“It’s like Christmas, and not in a good way,” Mr Spooner said.
“When Christmas comes along, you plan for four weeks in advance for the demand.
“Right now they get that demand every week, and it’s putting stress on their supply chains and it’s crippling their logistics.
“Retailers are trying to figure out when they can meet demand, when it will end, and if it’s a shift in the way consumers act.”
With the market fragmenting rapidly, Mr Spooner said the data Uno collated at this time would be useful for businesses rebuilding in the aftermath of the pandemic.
“When SARS happened in China, it kicked off e-commerce,” he said.
“How do you understand consumer behaviour, how does that affect supply chains, and how do we understand when are people willing to go back out to restaurants?
“It’s a case that we can signal when and how the market is shifting.”