€800 million sales bounce expected as retail reopens: Retail Ireland
Irish consumers expected to spend over €3 billion on debit and credit cards in shops in the next month
Print18 May 2021
Ibec group Retail Ireland said retailers opening yesterday were hopeful of a significant summer bounce in trade, with sales over the next month expected to be 40% higher than pre-pandemic times, due to pent up consumer demand.
Based on the experience from last year, Retail Ireland expects Irish consumers to spend over €3 billion on debit and credit cards in shops in the next month, €800 million more than over the same period pre-pandemic. Despite the very positive news on reopening, the group said the sector was nevertheless concerned about the longer-term outlook and that government supports for vulnerable businesses must continue.
“It has been a long road, but a buzz is finally returning to high streets and shops after months of restrictions,” said director of Retail Ireland Arnold Dillon. “There is a lot of pent-up demand, which should lead to a strong sales over the coming weeks. Public health is the absolute priority. Retailers have been reviewing and updating their public health protocols to ensure a safe experience for customers and staff.
“The last few months have been incredibly stressful for retail businesses and their staff, but there is a real sense of optimism,” he added. “We don’t expect to have to close down again. Government supports have been a lifeline for many businesses, but challenges remain.”
Dillon also pointed out that debt levels have increased significantly, and many rent disputes remain unresolved.
“Supporting the experience economy and breathing life back into our towns and cities must be a top priority over the coming weeks and months,” he said. “It is really important that a plan is put in place for getting offices open again.”
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