It seems that the January lockdown did not affect consumption which continued at good levels, according to banking sources.
The same sources explained that the pandemic has forced new consumer inclinations, accelerating the digitalization of consumption, which had anyway begun due to the development of technology.
Banks are monitoring consumption through the use of credit cards. And what they are seeing is the fact that possibly in some sectors, consumption is even higher than January 2020, meaning before Cyprus was affected by COVID-19.
For example, the section of delivery in restaurants is up to six times better than the previous year. And even though there might be no consumption of drinks, the company is still gaining because overall expenses are being reduced.
