Black Friday deals give Irish consumer spending a boost

Irish consumer spending rose yet again this month, according to Visa's Consumer Spending Index
Irish consumer spending rose yet again this month, according to Visa's Consumer Spending Index

The latest edition of Visa's Irish Consumer Spending Index has revealed that Black Friday sales encouraged a sharp year-on-year rise in Irish household expenditure during November.

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8 December 2017 | 0

Visa’s latest consumer spending index has revealed that the recent “Black Friday” phenomenon caused a sharp year-on-year increase in household spending for November.

The index, which measures expenditure across all payment types (cash, cheques and electronic payments), pointed to a marked acceleration in the rate of growth in consumer spending. Expenditure was up +5.0% year-on-year, much faster than the +0.7% rise in October. In fact, the expansion was the strongest since September 2016.

Growth in expenditure was broad-based between the face-to-face and eCommerce channels, with the expansion slightly faster on the high street. Face-to-face spending rose +5.1% year-on-year, the sharpest increase for a year-and-a-half. Face-to-face expenditure has now risen in three successive months as the high street mounts a recovery following an 11-month sequence of decline.

eCommerce spending rebounded in November following the previous month’s reduction. Expenditure was up +4.8% year-on-year, as Irish online shoppers sought out deals on Cyber Monday.

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