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Analysis: Keeping up the Covid cashflow

Coles invests further in digital. Image: Bigstock.
Supermarket chains were virtually lottery winners of the 2020 Covid-19 pandemic, spectacularly increasing sales and earnings. The only place to go for toilet paper or a social outing in some of the pandemic lockdown periods, supermarkets substantially boosted foot traffic and pickpocketed market share from retailers in other categories that were forced by government restrictions to keep their doors closed. There was a realisation, as much as an effort to deflect criticism, that the gains of 2020