Average household to spend €1019 on Christmas 2023, up 5% on last year – Retail Ireland
- Average household to spend €1019 on Christmas 2023, up 5% on last year
- Positive footfall figures nationwide, with Dublin numbers recovering after disturbances
Retail Ireland, the Ibec group that represents the retail sector, today published new data suggesting Christmas retail spending will be up around 5% on last year, with the average household spending €1,019 more in retail during the month of December compared to other months. We expect to see about €5.6 billion in retail spending in December, €1.1 billion more than the typical spend in other month. The majority of stores are trading ahead of last year.
Retail Ireland Director Arnold Dillon said: “Christmas is falling at good time for retail, with a full weeks trading and a weekend before Christmas Day. Businesses are optimistic that this will translate into positive trading figures. While footfall in parts of Dublin suffered due to the disturbances last months, numbers are recovering and there is a positive outlook for the run up to Christmas. Nationwide, retailers are reporting footfall up on last year, and in some areas significantly up.
“Consumers remain cautious. Cost of living concerns remain and this is translating into shopping patterns, with many shoppers still looking for value or focusing on a smaller number of bigger purchases. Despite these factors, consumer sentiment has improved over recent months with shoppers determined to get the full Christmas experience. Notably, the recent cold spell has seen a significant increase in the sale of winter clothing.
“It has been a challenging year for retail, with businesses and consumers managing significant cost increases. Inflationary factors mean that people will be spending more to maintain the same level of purchases as last year. Thankfully, inflation is now firmly on a downward trajectory. This should support a further improvement in sentiment as we move into next year.”