Dutch consumers spent less money during the severe heatwave in June, according to research from bank ABN AMRO based on customer transaction data. The shift in spending patterns was most pronounced in rural regions.
Overall consumption dropped temporarily by four per cent. People made fewer online purchases and withdrew less cash from automated teller machines (geldautomaat). Debit card transactions showed a mixed trend. Payments initially rose during the first warm days. However, card spending fell sharply when temperatures climbed well over 30 degrees Celsius, and a red weather warning was issued.
Fuel purchases fell significantly outside urban areas, suggesting that rural residents chose to stay at home. Researchers noted that rural areas have a higher proportion of older residents, who are more likely to follow medical advice to restrict activity during peak heat.
In contrast, debit card spending remained stronger in cities, driven by visits to local hospitality venues. Economists noted in their report, published on Saturday, that urban homes tend to retain more heat, which likely encouraged residents to seek cooler spaces outdoors.
Supermarkets proved to be an exception to the overall decline. Grocery spending rose across the country, even as non-essential retail transactions fell.
@anp | NEWS BRAINPORT
