Italians want to return to normal and the average spending in bars and restaurants last February, as well as the number of transactions, sent a clear signal: as soon as the restrictions for the health emergency are relaxed, the Italians ‘get going’ to try to go back to doing what they have been used to for a lifetime. To prove it are the data collected for time.news by Revolut, which compare the cost and number of transactions of February 2020, the last ‘free’ month before the lockdown, with those of February 2021, when all of Italy was in the yellow zone and the locals could do table service until 6pm.
In February 2020, according to the findings of the financial app, the average expenditure of Italians in bars and restaurants it had been about 96 euros per person. A few days later, from mid-March to mid-April and therefore full lockdown, the figure had dropped by 47%, with peaks that had reached -66% in Valle d’Aosta, -60% in Molise and -56% in Basilicata. And it wasn’t just the average spending that dropped dramatically but also the number of transactions: -88% nationally, with dramatic peaks of -95% in Sardinia and -91% in Campania, Basilicata and Valle d’Aosta.
Exactly one year later, in February 2021, with almost all of Italy in the yellow zone and, in fact, with table services until 6 pm, the average spend and the number of transactions were growing again, not reaching pre-pandemic levels, but indicating a gradual recovery. The average national expenditure was 24% lower than in February 2020, with some regions that had recovered almost completely, such as the Marche (-5% but it is the region where you spend less on average) or Basilicata (-13 %, region where you spend the most on average).
Remains significant the difference in the number of transactions in February 2021 compared to February 2020: Revolut data indicate national -34%, but with a growing user base that widens the gap between the two periods. In short, from Revolut they underline, however, that consumption in February was “significantly” lower than the pre-pandemic levels and this is because they were mainly concentrated in person in a few weekends, given the closures at 18, and for the rest online.
“Our data shows clearly how much people try to enjoy some normalcy as soon as possible, we also saw it in the two weeks before Christmas when restaurants and bars were open in most of Italy “, Elena Lavezzi, Revolut’s Southern Europe manager, comments to time.news. “In February, almost all the regions entered the yellow zone, which meant bars and restaurants open until 6pm. The favorable weather in many geographical areas then certainly prompted Italians to go out, especially on weekends. with the consequent increase in transactions“.
But the damage, he adds, “was not limited, unfortunately. It is true that in February people started spending again, on average around 24% less than a year ago. but it is also true that the number of transactions is significantly lower than a year ago. We will probably have to wait for the summer to return to pre-Covid levels. ”
Also because, for example, “after February – continues Lavezzi – with the orange and red regions again, the average expenditure per user and transactions have returned to decrease. People order food with delivery or take-away, but obviously the volumes are not comparable to those we see when the premises are open and usable by customers. With the arrival of summer ci expect a significant increase in spending and transactions, if the premises will also be open in the evening, as happened last year “, he concludes.