The average monthly bar spend was €82.36 in September but this was 6% up on the same month in 2019 – the year before Covid-19 distorted meaningful sales comparisons globally.
However, account must also be taken of the significant growth in Revolut card-holders in the intervening period – especially significant in the Hospitality sector.
Off-trade spend in September showed a decline of 1% compared to August with a 3% decline in the number of users spending in the category month-on-month.
The average monthly Revolut card spend in the off-trade was €39.96, down 2% on the August spend. Nevertheless, Revolut card spend was 27% up on that of September 2019.
The Revolut figures for September’s card spend in restaurants indicated a 6% decline compared to August with the average monthly Revolut card spend remaining at €85.91. This compares unfavourably with the spend in September 2019, being down 17%.
Duty-Free outlets also saw Revolut card use up 17% in September over August although the card company reported a 19% increase in the number of users spending in this category month-on-month.
The average spend was €42.25, down 1% compared to August and down 36% compared to September 2019.
The Revolut figures for September’s card spend in hotels, motels and resorts showed a 27% decline compared to August with an accompanying 15% decrease in the number of users spending in the category month-on-month.
At €144.60, average monthly spend was down 13% compared to August and down by 4% compared to September 2019.
However the figures would still indicate that consumer spend remained buoyant.
Revolut’s spending data has been used in six ‘Emerging Economic Trends’ publications by the Department of Finance to date.
It was also cited by the Department of Finance Chief Economist in his pre-Budget submissions and then by Finance Minister Paschal Donohoe in his pre-Budget reports.