| | Checkout Magazine reports that Retail Ireland predicts that this year’s Christmas period will be the best Irish retailers have seen for seven years, as January tax cuts boost consumer sentiment.
In its Q3 Retail Ireland Monitor, the Ibec group also highlights how a weak euro is also attracting more tourists, with businesses in Dublin centres particularly benefitting.
Meanwhile, a survey of more than14,000 shoppers suggests that nearly half (46.9%) hope to get most of their Christmas shopping done in November,
Retail Ireland expects core retail sales for December 2015 to be as high as €4.05 billion, an increase of 3.5% from figures in 2014. Furthermore, consumer spending growth for 2015 versus last year will top 3.1%.
It is also predicted that personal consumption expenditure on core retail goods in December will be the equivalent of €2,450 per household, or about €600 more spending per household than in any other month of the year.
The Q3 Retail Monitor also reports that retail sales values in 2015 to September are up by 2.4%, with a strong rebound in furniture, homewares, fashion and electronics.
However, for supermarkets and convenience stores, falling consumer prices are still holding back value growth. |