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Revolut: spending by Italians increasing after lockdown
Revolut: spending by Italians increasing after lockdown
Fintech

Revolut: spending by Italians increasing after lockdown

By Amelia Tomasicchio - 18 Jun 2020

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According to a new analysis, Revolut reveals that the spending of Italians is recovering after the lockdown caused by the Coronavirus.

In June, in fact, in-store transactions made with cards returned to the same levels as at the beginning of March, while spending volumes were 25% higher than in the previous period.

These volumes refer mainly to restaurants, transport but also to sharing scooters and home decor.

In the meantime, online shopping is also growing considerably again.

With its more than 12 million customers in Europe, Revolut often carries out its customers’ spending analyses and has thus been able to verify that during the Phase 2 currently underway in Italy the spending of Italians is gaining momentum.

What do Italians buy?

This research has analyzed the purchases of over 400,000 Italian customers in recent months.

As of May 18th, physical card transactions have increased significantly and in the second week of June, they reached levels prior to the start of the lockdown.

The volumes in June, on the other hand, are 25% higher than in February, demonstrating that Italians want to return to normal life, whereas the number of transactions made online is 23% higher.

Looking at the shopping categories, the number of transactions made at the shops is 30% higher than in February. Between May and June, credit cards were used in restaurants and for the purchase of transport but still stand at -45% and -35% respectively compared to the beginning of March.

As far as supermarket shopping is concerned, the number of transactions is 23% lower than pre-lockdown levels.

As for other categories, there are peaks in home decor, clothing and fast food purchases.

Here are some examples: 

  • Trenitalia +128%;
  • Trainline +172%;
  • Urban Sharing mobility (Dott +448%, Helbiz +167%, Enjoy +82%);
  • Bricolage and furniture (Ikea +329%, Leroy Merlin +108%);
  • Clothing (Decathlon +135%, Calzedonia +93%);
  • McDonald’s and Burger King +175% and +180%.

 

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and she is about to publish her first book about Blockchain Marketing.

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