The amount Irish people spend on everyday grocery items has increased for the fourth consecutive quarter as consumer confidence continues to grow.
According to year-on-year figures published this morning by market analysts Nielsen, the volume of fast-moving consumer goods bought in the Republic rose by 1.1 per cent over the year to the end of March.
The average prices paid by shoppers climbed by the same amount and the combined figures mean that grocery retailers saw a 2.2 per cent rise in takings over the 12 months.
The Irish market outperformed Europe as a whole which had a 1.5 per cent rise over the same period while the UK saw a 0.5 per cent rise. It is the first time spending increased there in nearly two years.
More confidence
“With the economy stabilising, Irish consumers are feeling more confident, and we’re seeing that manifest itself in their purchasing behaviour, both in terms of the increases in the amount of goods they’re buying and the average price they’re paying for them,” said managing director of Nielsen Ireland
Matt Clark
.
Across the 21 European countries measured, Turkey had the highest growth in takings at the tills with a year-on-year jump of 9.7 per cent while Greece saw the biggest decline with a fall in consumer spending of 6.1 per cent.
Of the big five western European markets, Spain had the highest growth with spending climbing by 3.1 per cent while Germany was the only one of the big five European states to experience a year-on-year decline in takings at the tills.
