Revolut sees 59% spike in charity donations during lockdown
Melanie May | 23 April 2020 | News
Data from digital banking alternative Revolut has revealed a spike in charitable donations across all age groups, regional areas, and different causes since lockdown began in March.
The data has been gathered from 3 million UK Revolut customers, comparing stats from January and February 2020 to data since Covid-19 began to impact UK consumers from 1 March 2020.
The average amount given through Revolut Donations increased across all age groups, by an average of 59%. Those in older age brackets gave significantly more than they did prior to lockdown, with the biggest rise seen in those aged 50+, where donation amounts rose by 147%. Those aged 41-45 increased their average donation amount by 91% and those between 46-50 by 75%.
Younger donors also increased their giving. Gen Z gave an average of 13% more per donation, while those aged 26-30 increased their average donation amount by 8% and those aged 31-35 by 23%.
Lockdown has seen a number of new charity partners added to Revolut Donations, including Médecins Sans Frontières (MSF) and Trussell Trust. Donations to these two charities have reached over £660,000 across Europe, and £125,000 in the UK in a matter of weeks, it says.
Of the longstanding charities listed on Revolut Donations, support for Save the Children (22%), IGLA Europe (15%) and Movember (2%) also rose during the time period.
The data also showed strong regional variations in donation amount rises across UK cities with Edinburgh residents increasing average donation amounts by 313%. This was followed by Sheffield (177%), Belfast (168%) and Cambridge (159%).
Outside of the Revolut Donations feature, spending analysis on Revolut cards shows the average transaction volume for Change.org rose by 355%, driven by consumer support of families and individuals struck by the virus, while Virgin Money Giving saw an average transaction increase of 112% – largely down to the #5for5 and #runforheroes campaigns. JustGiving transaction values grew by 93%, with many looking to support veteran hero Captain Tom Moore.
Revolut’s data also shows that reaching out to loved ones through online services also increased with purchases at online flower delivery services Bloom&Wild (127%), Serenata Flowers (108%) and Freddie’s Flowers (95%) all rising. Card and gift services Funky Pigeon (60%) and Thortful (19%) also saw a rise since the beginning of March.
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About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.