Irish retailers can look forward to a good Christmas shopping season, with Ireland again to the fore in Europe, according to a survey released yesterday.
It says that over 30 per cent of Irish shoppers intend to spend more than last year, with the average planned household spend expected to reach €1,270. The survey reveals that Irish shoppers spend more than 75 per cent above the average European spend of €725.
Mr Cormac Hughes, consumer business partner at Deloitte - which conducted the survey - last night said: "Planned spend at Christmas is driven by how confident people feel about the economy, their income, and job security. More than 75 per cent of Irish people believe that the Irish economy is experiencing growth and almost 85 per cent believe this will continue in 2005."
According to the survey, which polled almost 4,000 people in seven EU countries, 57 per cent of shoppers in Ireland expect a growth in household income in 2005 and almost half of Irish employees feel their job will be very secure in 2005, the highest score in Europe.
Consumer spend is also buoyed up by income trends over the last year. Close to 40 per cent of Irish consumers claim to have a higher disposable income than this time last year.
This growth has particularly affected the 25 - 40-year-old age bracket, which has shown a stronger rise in disposable income or spending power than other age groups. This, according to the Deloitte report, is also the most optimistic group in terms of expected growth for the year ahead.
Almost half of Irish consumers say they will leave their shopping spree until the last minute, in the hope of obtaining discounts. The majority will shop around and compare prices with last year in order to get the best deal.