Coldiretti: with the closure of restaurants at Christmas, loss of 41 billion
Today on Black Friday, the epidemic slows down consumption but ecommerce is growing
Confcommercio: consumption in October dropped to minus 8%
Confesercenti: with the second wave up to 10 billion less consumption
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November 29, 2020 Covid depresses Christmas also from an economic point of view with a drop of 20.3% in consumption compared to 2019. The money of the thirteenth will be spent on purchases: 2 billion and 716 million euros against 3 billion and 408 million last year (-692 million).
The estimate is from the Research Department of Confcommercio Milan, Lodi, Monza and Brianza.
According to Confcommercio, the consequences of the health emergency with the growing difficulties in employment and the significant increase in the propensity to save (from 8.3% in 2019 to 16.6% this year) affect the decline in consumption.
A moderately positive sign (+ 1.8% with 318 million euros in consumption) is expected only for food, and a stable trend for technological products (tablets, smartphones, etc.).
With the anti-Covid restrictions, spending on dinners and lunches outside the home plummets: - 62.6%.
Sos for restaurants: when reopening at reduced hours with a possible "yellow zone", the decrease would still be estimated, between 30 and 50%.
Expenses for shows, concerts, sporting events have been practically zeroed and there is also a drop in spending for holidays: - 80%.
Tourist flows were worth 124.2 million euros in 2019 and, at best, will not reach 25 this year.
With the resources of the thirteenth, it will be e-commerce that will benefit from a strong increase more than doubling - + 58% - compared to 2019. And the market share of online commerce will rise to 38% (from 21.3% last year).