Irish households will spend an average of €2,654 each in the run up to Christmas
Business group Retail Ireland said it expects Irish households to spend an average of €2,654 in shops this month, €870 more than any other month this year.
It expects Irish people to spend around €4.5 billion over the Christmas period, – up from €4.4 billion last year.
However, retailers fear that they may lose out due to the number of people shopping online with non-Irish websites and crossing the border to Northern Ireland to do their shopping. It said it the week beginning 18 December to be the retail trade’s “make or break” week as Christmas Day falls on a Monday.
Ireland’s Central Bank said it expects total Irish e-commerce spend to exceed €16 billion by the end of the year, nearly a 50 per cent increase on 2015.
Retail Ireland director Thomas Burke said: “Now that the uncertain political environment of recent days has passed, retailers are looking forward to the approaching Christmas period with renewed optimism.
Rising disposable incomes, more people at work, and falling prices will raise consumer spirits and enable greater spending power over the busy Christmas period.
Meanwhile AA Ireland says only one in ten people in the Republic plan a shopping trip North of the Border this year.
AA Ireland Director of Consumer Affairs Conor Faughnan said: “While the euro is still performing strongly against the Pound Sterling, the immediate aftermath of Brexit may have encouraged more people to make the journey last year despite the transport costs involved in doing so often negating any savings you may make.”
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