Index shows online spending reached record levels in December

Index shows online spending reached record levels in December

There has been a record increase in online shopping.

Sales to Irish customers went up 16% in December, compared to the same time last year - making it the most profitable month in history.

The figures from credit card company Visa also show that Cyber Monday in November was the busiest individual day for eCommerce.

The latest Visa Europe Irish Consumer Spending Index signalled a strong end to 2015 for the Irish economy as total household expenditure rose 6.6% across all Visa debit, credit and prepaid cards from one year earlier.

Spending on Household Goods increased by 10.8%, while Health & Education spending went up 10.7% and there was a 10.7% spending rise in the Recreation & Culture sector.

The Hotels, Restaurants & Bars category recorded strong growth, albeit at a slower pace than previous months, at 7.6%.

One area that saw a marked slowdown in the rate of expansion was Clothing & Footwear as weather conditions hampered retailers' efforts to secure sales of winter clothing.

Spending in the sector was up just 3.9% over the year to December, well down on the 15.7% rise from November and the worst performance for the sector since October 2014.

Conor Langford, Country Manager, Ireland, Visa Europe said: "Cinemas in particularl benefited from the release of the latest Star Wars blockbuster, which recorded over €3 million in sales in five days alone.

"Overall it capped off a very positive twelve months as rising levels of consumer spending continued to contribute to economic growth."

Andrew Harker, Senior Economist at Markit said: "The recreation and hospitality areas fared particularly well as rising consumer confidence and improving wages led people to enjoy the Christmas festivities.

"With GDP data backing up the findings of Visa Europe’s Irish Consumer Spending Index data for the third quarter of the year, the strong performance of the Visa data during Q4 bodes well for the official figures when they are released."

More in this Section

US to raise Huawei concerns with UK ahead of final decision on 5G networkUS to raise Huawei concerns with UK ahead of final decision on 5G network

Maybe it's time to consider ethics when buying a mobile phoneMaybe it's time to consider ethics when buying a mobile phone

Fixed-rate mortgage price war heats upFixed-rate mortgage price war heats up

UK supermarket to axe around 3,000 manager roles in major staff restructuringUK supermarket to axe around 3,000 manager roles in major staff restructuring


Lifestyle

After years of saying no, Patrick Stewart tells Georgia Humphreys why he finally agreed to reprise his role as Jean-Luc PicardPatrick Stewart on boldly returning for Star Trek Picard

Cork teenager Jessie Griffin is launching a new comic-book series about her own life. She tells Donal O’Keeffe about her work as a comic artist, living with Asperger’s, and her life-changing time with the Cork Life CentrePicture perfect way of sharing Jessie’s story

Sorting out Cork people for agesAsk Audrey: The only way to improve air quality in Douglas is to move it upwind from Passage West

The Lighthouse is being hailed as one of the best — and strangest — films of the year. Its director tells Esther McCarthy about casting Robert Pattinson, and why he used 100-year-old lensesGoing against the grain: Robert Eggers talks about making his latest film The Lighthouse

More From The Irish Examiner