Irish are top European festive spenders
The 10th annual Deloitte spending survey reveals the Irish will be Europe's top spenders this Christmas but the average spend per household has fallen to €943
Print18 November 2011
Irish are back in poll position as top Christmas spenders, according to a Deloitte survey
Irish shoppers are the top spenders at Christmas-time across Europe, the 10th annual Deloitte spending survey has found.
Although the Republic’s shoppers had fallen behind consumers in Luxembourg for the past two years, they have once again gained poll position in the shopping leagues.
Despite this, the average spend per household continues to fall, and will be €943 this year, down from €1,020 in 2010 and a reduction of €411 since 2008.
The Deloitte survey shows that Irish households intend to spend €520 on gifts, €258 on food, and €165 on socialising.
“Following a steep decline of 10.6% in spending last year, it’s encouraging for retailers that the drop in spend is not as significant as last year,” said Deloitte director Richard Howard. He said that despite financial pressures, “the desire to embrace Christmas and enjoy the festivities has remained strong”.
RGDATA director general Tara Buckley, when asked if she believed the survey gave retailers reason to be optimistic for festive sales, told ShelfLife: “Independent retailers are by nature optimistic. For many 2011 has been a very difficult year and they are most definitely hoping for a Budget that does not further depress consumer spending but paves the way for a revival of consumer sentiment and a good festive season… RGDATA urges people to shop local and buy Irish this Christmas if they really want to assist national recovery and their local economy”.
Retail Ireland chairman and Topaz retail director Frank Gleeson said: “Retailers are operating in an increasingly challenging environment. Consumers are afraid to spend because of economic uncertainty. Retailers welcome any respite and a pick-up in consumer spending.”
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