Nielsen: Irish grocery spending on the rise
New research published by Nielsen has revealed a steady rise in Irish grocery spending, as well as evidence that consumer confidence is at its highest point since the recession.
8 March 2017 | 0
Over the past couple of years we have seen reams of evidence stating that Ireland’s economy is on the bounce back, from budget reports to anecdotal evidence, press releases and more. It’s always good to see more evidence though, especially when it’s localised to the one industry, in this case grocery.
New research by Nielsen has revealed that Irish consumer spending on grocery – everyday purchases such as food, drinks, toiletries and the like – has increased year-on-year for the seventh consecutive quarter.
Comparing Q4 2016 to Q4 2015, grocery spending increased +2.1%.
Meanwhile, Nielsen’s Global Survey of Consumer Confidence and Spending Intentions research also reveals that consumer confidence at the close of 2016 was at its highest since the recession hit, and that Ireland is the “sixth most confident country in Europe”.
“Irish consumer confidence has been steadily rising for the last few years and has been stable enough to withstand recent unsettling events such as the UK Brexit and the US election,” says Matt Clark, Nielsen’s commercial director in Ireland. “Although we’re a long way from seeing a return to the days of the Celtic Tiger, this confidence has slowly been translating into increasing spend among consumers.
“A good barometer of this is year-on-year grocery spend rising for seven consecutive quarters plus the volume of groceries purchased jumping by its highest level for a year,” Clark added. “This provides encouraging signs for the future, particularly with a flat consumer price index and ECB interest rates remaining at a record low.”