Number of purchases transactions in Portugal to decline amid pandemic

Thursday 2 April 2020 09:40 CET | News

SIBS, a payment processing and financial technological services provider, has published an analysis on the evolution of consumption data in Portugal over the past few weeks in context of the Coronavirus’ crisis.

In the context of the Portuguese government measures towards social isolation, there was a sharp drop in the number of the purchase transactions, which decreased 56%, compared to the average before the confirmation of the first case of COVID-19 in Portugal. Thus, the number of purchases dropped to about half compared to the daily average before the first case. This reduction in frequency was accompanied by an increase in the average value of purchases of 12% to EUR 38,8.

There has been a progressive shift from in store towards online purchases. Online purchases also decreased during this period, but significantly less (-30% vs average week before COVID-19) then in store purchase. The average ticket of online purchases as increased slightly to EUR 39,7 (+6%) in this period.

As in previous weeks, there was a concentration of purchases in Super & Hypermarkets and Pharmacies & Drug Stores, sectors which now represent more than half (58%) of the total purchases made in Portugal in the last week.

The number of purchases with the wallet MB WAY (national app available for Android and iOS) increased significantly during this period. An evolution that highlights the convenience of using MB WAY, both in store, since it allows all payments to be made exclusively with the mobile device (without any contact to the merchant’s terminal) in compliance with health authorities recommendations, according to the official press release.

With more than 9 different feature, MB WAY is a preferred payment wallet in Portugal.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: SIBS, payment processor, study, shopping, ecommerce, transaction, social isolation, online purchases, Portugal, MB WAY
Categories: Payments & Commerce
Countries: Portugal
This article is part of category

Payments & Commerce

Industry Events