Hand Sanitizers, Cleaning Products Sales Surge Amid Coronavirus Fears: Could There Be A Shortage?
As the coronavirus continues to spread, the demand for hand sanitizer is reportedly surging so much that there could be a shortage.. Other products, such as face masks and cleaning wipes, are also reportedly in limited supply.
"This demand may cause temporary shortages at some store locations and we re-supply those stores as quickly as possible," a spokesperson for CVS told CNN.
Manufacturers of hand sanitizer are continuing to see sales grow from fears over the coronavirus. Bath & Body Works, which sells hand sanitizer, has reportedly seen this segment of its business increase since the outbreak of the virus started.
"The hand sanitizer business is about 5% of the total business,” Stuart Burgdoerfer, CFO at L Brands, the parent company of Bath & Body Works, said on a call with analysts (via CNN). “It is presently growing at a very high rate for reasons we would all understand.”
Even cleaning product companies are seeing an increase in demand for their products, which they said they are prepared to meet
“We are taking up inventory levels [to] be prepared for the potential increase in demand for some of our bleach products,” Kevin Jacobsen, CFO at Clorox, said on a call with analysts earlier in February (via CNN).
The Centers for Disease Control and Prevention has said the best way to prevent the transmission of the coronavirus is to wash hands thoroughly with soap and water.
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