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Revolut: Italians’ spending habits change due to Covid-19

Revolut has analyzed changes in the spending habits of Italian users in recent weeks, which have been affected by the spread of the Covid 19 pandemic.

The internal data refer to over 400,000 Italian users and compare the purchasing behaviour at the beginning of March with that at the beginning of April 2020.

First of all, during this period there has been an increase in spending on video games: Steam Games gains +270%, while Playstation scores +188% and Nintendo +86%, recording among the highest increases in the number of transactions. The cause is certainly due to the quarantine which compels all Italians to find new activities to do at home.

In fact, streaming services transactions have also increased, ranging from Netflix (+26%) to Spotify (+13%) via platforms that facilitate sharing such as Together Price (+16%). Retailers such as Aliexpress (+90%), Apple (+37%) and Amazon (+38%) also saw a significant increase in transactions, though Amazon is selling less essential goods.

Italy: how per capita spending increases

While the figures indicate that people have made 48% fewer transactions at major supermarkets, the total amount is 21% higher. This trend can be seen throughout Italy. This indicates that, although people are buying less often, they are buying more products than usual, perhaps also because it is no longer possible to eat out, and also because they tend to stock up to remain well-supplied.

Almost all the main supermarket chains have recorded a decrease in transactions, but at the same time an increase in spending:

  • Auchan (transactions -44%, amount spent +19%);
  • Carrefour (transactions -46%, amount spent +37%);
  • Conad (transactions -33%, amount spent +61%);
  • Coop (transactions -34%, amount spent +49%);
  • Pam Local (transactions -45%, amount spent +49%);
  • Penny Market (transactions -26%, amount spent +72%).

The average receipt value increased by 34%. These figures refer to the first week of the lockdown.

Meanwhile, of course, the restaurant (-90%) and transport (-87%) sectors dropped significantly, but apps like Glovo (+26%) and Just Eat (+8%) are growing.

Travel and transport have also been impacted by restrictions: Flixbus -93%, Trenitalia -92%, Booking.com -85%, Trainline -76% and Uber -66%.

In addition, physical card transactions have been drastically reduced, with -77% compared to the beginning of March. At the same time, however, the number of online transactions grew by 9%, while the volume grew by 15%

Amelia Tomasicchio
Amelia Tomasicchiohttps://cryptonomist.ch
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.