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Retail Ireland

Retail Ireland is the national representative body for the entire retail sector. It represents Irish and international department stores, DIY, electrical retailers, fashion and footwear retailers, major supermarket groups, symbol groups and a range of specialist retailers. Visit www.retailireland.ie. About Ireland’s retail sector The retail sector is Ireland’s largest employer, with over 250,000 people employed. This is 14.5% of Ireland’s total workforce. Retail accounts for over 10% of Ireland's GDP. Ireland’s retail sector is made up of predominantly small, indigenous companies, with approximately 44,000 active wholesale and retail enterprises in Ireland 86% of retailers of have less than ten employees and 86% are Irish‐owned. Challenges Weak domestic demand: The biggest challenge to recovery in the retail sector is weak domestic demand. Consumer spending has fallen every year since 2008 and IBEC predicts that it will fall by a further 2% in 2012. Until we reverse this trend, retail will suffer. Unemployment: The sector has experienced significant job losses since 2008, with employment declining by 47,000 from a peak of 314,000. Job creation will depend significantly on wider economic growth and increases in consumer spending. Falling sales: Sales have fallen sharply, declining by 30% since their peak in 2008. The largest declines have occurred in furniture and lighting (‐55%), motor trades (‐50%), hardware (‐39%) and electrical goods (‐38%). In 2012, retail sales have fallen by 2%. Declining consumer sentiment: The KBC/ESRI Consumer Sentiment Index reached a five year high in August 2012. Since then, however, it has fallen back as consumers worry about their finances. For more information, visit http://www.retailireland.ie.

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Stephen Lynam Director firstname.surname@ibec.ie Tel: (01) 6051558

Retail Ireland website


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