The Daily Star Ireland
Retail Ireland’s latest report, released this Christmas Eve, reveals that the average household will spend an additional €1555 in December compared to other months, reflecting a 1% increase from last year. The retail group anticipates total retail spending for December to reach €8.9 billion, €3 billion more than the typical monthly expenditure.
This surge in Christmas spending is partly attributed to the €2 billion in extra cost-of-living supports introduced in November and December through Budget 2025. Retail Ireland’s Director, Arnold Dillon, highlighted that factors like Black Friday occurring later than usual and poor weather earlier in the month led some shoppers to delay their holiday purchases. However, recent shopping trends have been more promising.
Despite an increase in spending, Dillon pointed out that consumers remain cautious. Many are still prioritizing value or focusing on fewer, larger purchases due to ongoing concerns over the cost of living. However, he noted that consumer sentiment has improved, and shoppers are determined to enjoy the full Christmas experience.
Looking ahead, Retail Ireland expects the positive momentum to continue into 2025. While 2024 has been a tough year for retailers, the improving sentiment is not yet fully reflected in spending increases. Despite inflation cooling in recent months and strong employment figures, business costs have risen significantly, which retailers hope will ease in 2025 to support further spending growth.
