L’impact du confinement sur différents secteurs d’activités vu par la donnée bancaire enrichie
Tags: Covid 19, Data, Fintech, Features

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The impact of quarantine on the industries seen by enriched financial data

Thanks to our categorization algorithms’ power, tried and tested by more than 4 millions users via the Bankin’ app, Bridge is able to provide enhanced statistics on the French’s expenses and incomes during the containment.

The detection of real wages is made possible, through our technology to upgrade / enhance financial data. Thus, we were able to detect that partial unemployment and the shut down of most activities since the beginning of the containment negatively impacted the French citizens’ incomes (between the end of February and the end of March). Through the data over three weeks (from 02/18 to 03/17 and 03/17 to 04/07 — the same date range as for the revenues), we tracked the following decreases in the revenues:

-13,7% for revenues between 900€ and 1700€

-13,4% for revenues between 1700€ and 2500€

-5,6% for revenues between 2500 and 3500€

We will make sure to keep up with the data’s evolution, to validate (or invalidate) the trend.

It is important to notice that the decrease in the revenues seems to be compensated by a decrease in the expenses. Through the data over three weeks (from 02/18 to 03/17 and 03/17 to 04/07 — the same date range as for the revenues), we tracked the following decreases in the expenses :

-29% for revenues between 900€ and 1700€

-29.3% for revenues between 1700€ and 2500€

-22.4% for revenues between 2500 and 3500€

Bridge’s technology gives us the opportunity to get highly detailed financial data.

Since the beginning of the lockdown, we have noticed a sharp increase in global expenses in supermarket products and groceries, for all brands. Our algorithms deliver data by brand and details on expenses, anonymously.

We were also able to get detailed information on expenses related to hygiene and health products. The analysis of this data since the beginning of the containment shows that pharmacy expenses remain high, while other health expenses decrease.

By deepening the analysis, it also appears that French citizens traveled after the announce of the containment. This transpires in the relative increase in the expenses in toll on the 16th and the 17th of March. However, fuel expenses fell significantly since the presidential address, showing that most people follow the containment constraints by limiting their car travels. This severe decrease in the fuel consumption has a strong impact on the oil industry. The barrel price dropped from 70$ to less than 20$ today. The issue of the storage facilities for barrels is also pressing : barrels are still produced despite the lockdown, but storage spaces are now a scarce resource.

Thanks to this data, we also observed an — expected- decrease in recreational spendings. Movie theaters, concert hall and museums are closed due to lockdown, hence the cultural industry is seriously affected by the crisis. The return to normalcy has yet to be planned.

By contrast, surprisingly, expenses for online shopping have not increased, except for spendings on Ali Express, even though e-commerce carry on their activity and deliveries.

We also note that cooking may have taken over ready meals, since food delivery expenses have plummeted since the 15th of March (except for services also providing grocery deliveries). The containment was also a way for the delivery industry to rethink their methods, by limiting any contact between the deliverer and the client.

Overall and without surprises, the tourism industry and all expenses related to travels are highly affected by the containment. Hotel reservations, plane and train tickets fell dramatically since mid-March. The tourism business is profoundly impacted by the containment. The terms ending the lockdown may change the trend.

Finally, those data show a strong growth in virtual entertainment expenses, especially on digital video games platforms. From this information, we suspect that the entertainment industry may have a high performance for the first quarter of 2020. Nevertheless, the video game industry was impacted by the containment, since many events and game consoles releases were canceled or rescheduled due to the sanitary crisis.

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About our analysis method:

How was this study made ?

Our analysis is based on anonymised data, respecting the privacy of all Bankin’ users and the regulation on personal data. For the purpose of this study, we analysed real anonymous data from 450 000 Bankin’ users, from the 19th of January until and including the 17th of April 2020.

Our methodology

We analyzed data from the anonymised operations in the following categories : “Incomes, Pharmacy, Recreation, Supermarkets, Fuel and Toll. We also detected diverse brands” : “Amazon, C-Discount, Ali Express, Playstation Network, Steam Games, Xbox , Deliveroo, Frichti, Ubereats, BlablaCar, Air France, SNCF Mobilités”.

The expenses’ index

They represent the evolution in the transactions’ volume (rapporté à un indice 100). They do not depict in any way the gross volume of the transactions or the amount of the transactions.

For example, for the expenses related to online shops, on the 29th of March. The graph doesn’t show that users spent more for Ali Express products than for C-discount products. It indicates that the increase in the amount of transactions towards Ali Express is higher for Ali Express than it is for C-discount.