The annual Deloitte consumer survey of Christmas spending predicts that Irish consumers will once again be the highest spenders in Europe this festive season, despite the fact that the average spend per household in Ireland will be €943, down from €1,020 in 2010 and a reduction of €411 since 2008.
The survey, which was carried out in the second and third week in September, shows that of the average spend in Ireland this festive season, €520 will be spent on gifts, €258 will be spent on food, and €165 will be spent on socialising. This year Irish consumers are predicting that they will spend 9.5 per cent less on gifts, 5.5 per cent less on food and nearly four per cent less on socialising.
Commenting on the figures, Richard Howard, Partner, Deloitte, said: “Following a steep decline of 10.6 per cent in spending last year, it’s encouraging for retailers that the drop in spend is not as significant as last year, and it’s interesting to see that Irish consumers have regained the crown of top spenders in Europe. Through the last number of years, it has been abundantly clear that, despite the fiscal pressures they face, the desire to embrace Christmas and enjoy the festivities has remained strong.”
What are Christmas shoppers looking for this year?
72 per cent indicated that they will focus more on buying less expensive gifts
83 per cent will buy more products and gifts that are on sale
84 per cent will focus more on buying useful gifts
69 per cent intend to increase their purchase of discount or retailers’ own label products, and few branded products.