Limerick has seen one of the biggest lockdown increases in fast food spending in 2021 Revolut reveals
IT SEEMS that when the chips run out, we in Limerick like to indulge in a take out.
Revolut revealed County Limerick had one of the biggest foreclosure increases in fast food food spending in 2021. The county was second with Sligo (+ 20%) behind Louth (+ 24%).
This Sunday, new data from Revolut, the financial app with more than 1.3 million Irish customers, shows which countries have been most successful in resisting the financial impact of this year’s Covid-19 restrictions.
The data, which is adjusted for the growth in the number of Revolut users, shows that Covid-19 restrictions have had significantly different impacts on spending in different parts of the country.
The new figures show Revolut County Carlow customer spending rose 17% during the January-March lockdown compared to the same period last year.
Revolut customers in Longford, Waterford, Offaly and Louth counties also saw double-digit increases in their spending during this year’s lockdown. Limerick was in eighth place (+ 7%).
In total, 17 counties saw overall Revolut customer spending increase in January-March 2021 compared to January-March 2020. Year-over-year spending remained unchanged in Dublin, Wicklow and Roscommon counties, in the meantime.
In contrast, customers in Sligo, Mayo, Clare, Cork, Leitrim and Galway counties have all seen their spending drop year on year for the same period.
Overall, national spending in Ireland from January to March 2021 decreased by -3% year over year compared to the same period in 2020.
This further strengthens data from previous Revolut monthly reports which suggests that consumers have funneled much of their pandemic spending out of hospitality and tourism to other areas – including digital content and services, and expenses in and around the house (for example, DIY, garden maintenance, new appliances and animals).
There has also been a significant increase in spending on groceries – up 27% nationwide during this lockdown from January-March last year. Limerick was booming by an average of 27%.
Revolut data also reveals which countries were most inclined to switch to online spending during the lockdown. For the period January to March, online spending was highest among Co Longford customers (50% of all spending), with Kerry and Dublin counties coming next (49% of spending was online and 51% in person in both counties).
Limerick’s online spend percentage was 48%.
In contrast, in counties Donegal, Wexford, Cavan, Laois, Sligo and Leitrim, physical spending still accounted for 55% of all spending – meaning only 45% was done online. The national average was 52% physical spending and 48% online. Limerick matched the national average exactly.
Meanwhile, Revolut customers in Louth saw the biggest increase in blocking fast food spending (+ 24%), followed closely by Sligo and Limerick counties (+ 20%). In Monaghan, by contrast, spending on fast food fell -14% year-over-year, with Roscommon (-10%) and Donegal (-9%) also registering notable declines.
Sebastian Hamilton, head of public affairs at Revolut Ireland, said: “We all know that the Covid-19 restrictions have affected consumer spending in different parts of the country to varying degrees. The latest high-frequency data analysis from Revolut, showing exactly what’s happening on the ground statewide, we hope will be helpful for policymakers and businesses to assess next steps as summer approaches. “