Spring lockdown caused spike in online transactions in Croatia

Spring lockdown caused spike in online transactions in Croatia
By bne IntelliNews January 19, 2021

The number of online transactions in Croatia between March and October 2020 increased by 34% year on year, while their value jumped by 38%, the Croatian National Bank (HNB) reported on January 19.

The increase was most significant during the spring lockdown imposed by the government to limit the spread of coronavirus (COVID-19) pandemic, but the rising trend has remained after that as well.

The HNB also noted that card payments increased by 5% y/y between March and October.

“Even though citizens prefer buying in person and [paying] in cash as the most represented method of payment for services and commodities in retail, the pandemic and the earthquake in Zagreb and its surroundings have left their mark on consumer habits with regard to accelerating the growth of online shopping and share of non-cash payments compared to cash,” the central bank wrote in a blog published on January 19.

The share of card payments in total fiscal receipts through 2020 amounted to 21% compared to 16% in 2019. In previous years, the average growth of that share has been around 2% y/y.

The number of contact transactions fell by about 29% y/y in 2020, while their value decreased by 9%.